Australian Wool Market Rebounds
June 15, 2018
The Australian wool market bounced back into positive territory after suffering losses in the previous sale. Fremantle returned to the wool selling program after a one-week break, helping to push the national offering up to 28,029 bales.
Although the market recorded overall gains – which was reflected in the Eastern Market Indicator rising by 10 cents to 2,021 Australian cents – not all microns managed to record upward movement. Eighteen and a half micron and finer suffered falls of between 5 and 30 Australian cents, as main buyer interest was focused on the broader section of the offering.
The largest increase in price was felt in the 19.5 to 22.5 micron range, which rose by 10 to 40 Australian cents. The individual Micron Price Guides in all three centers for 20.0 to 22.0 micron pushed further into record territory. Due to the fact that the coarser microns recorded the largest gains, the price differentials have constricted. By the end of the sale the there was only 5 cents separating the price of 19.5 to 21.5 micron. In some instances, selected coarser microns brought more money than similar wool with a finer micron.
The skirting sector followed a similar path to the fleece, 19.0 micron and finer retracted, generally by 20 to 40 Australian cents with lots carrying more than 4.0 percent vegetable matter the most affected. Nineteen and a half micron posted rises for the sale, generally between 10 and 20 Australian cents. A limited selection of oddments attracted strong demand, pushing prices slightly higher for the sale, generally 5 to 10 Australian cents. This was reflected in the three carding indicators rising by an average of 4 cents for the week.
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