The Australian wool market had its final sale of the 2019/20 season this week. Prices continued to deteriorate across the country. The individual Micron Price Guides (MPGs) in Sydney and Melbourne fell by another 5 to 38 cents.
Fremantle did not have a sale last week and therefore did not suffer the 40 to 50 cent losses experienced in the Eastern markets. As a result, the losses in Fremantle this week were much larger, the Western MPGs fell by 82 to 105 cents. Due to these losses the AWEX Eastern Market Indicator fell by 29 cents. The EMI finished the season on 1,110 cents, this was a fall of 605 cents, which equated to a 35.3% reduction. When viewed in US dollar terms the reduction was very similar, a 428 US cent fall, 35.8% lower. The national passed in rate finished the season on 17.0%, due to the falling prices this was 6.5% higher than the previous season.
The total national offering for the season was 1,470,717 bales, which was 194,942 bales less than the previous season, a reduction of 11.7%. The total turnover for the year was well down, which was to be expected with reduced prices and offerings. The total turnover for the season was 1.973 billion dollars, compared to 3.192 billion dollars for the 2019/20 season.
The crossbred sector also recorded price reductions for the series, the MPGs for 26.0 through to 32.0 micron lost 20 to 38 cents for the week in Melbourne. The skirtings followed a similar path to the fleece, with prices generally falling by 30 to 50 cents. The three carding indicators fell by 38 cents. Next week is the first sale on the 2020/21 season. To avoid having a sale straddling two financial years, the sales have been moved to Wednesday and Thursday. There is currently 31,072 bales on offer in Sydney, Melbourne and Fremantle.