Australian Wool Market Rises Despite Small Offering
June 22, 2018
The second to last sale in the Australian wool selling calendar is typically the smallest for the season, and this week proved no exception. With Fremantle sitting on the sidelines, the two-center roster mustered just under 21,000 bales – the smallest national offering in nine years.
The market continued to improve during the series, mirroring recent trends where most support has been on the Merino fleece sector. Eighteen through to 22 microns all attracted spirited competition as buyers fought for the limited quantity, driving prices as much as 80 Australian cents higher.
The ultrafine range also managed improvements, but the gains were not as consistent on the back of a mixed-quality selection. Prices maintained strength all the way through to the close on Thursday and the overall lift in values added further to an already successful 2017-18 final-quarter (April-May-June).
Since Easter, the AWEX-Eastern Market Indicator has risen in nine out of the 11 weeks and lifted 300 Australian cents with another week remaining. Also of note this week was the currency, which fell to its lowest level in 11 months when it dropped 2 cents for the week. While the 30 to 32-micron range tracked sideways, persistent support for the finer crossbred microns pushed the 26 and 28 Micron Price Guides into record territory after they gained 30 cents in the two days on a small offering. Twenty through to 28-microns are all now at records for the AWEX/AWC series (since 1979).
Merino skirtings gained 20 to 30 cents while Merino cardings stepped 20 to 30 cents higher. There are 32,528 bales expected next week in three selling centers at the final sale for the 2017-18 season.
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