Australian Wool Market Trends Upward Yet Again
March 2, 2018
The Australian Wool Market has continued its steady upward rise as 44,150 bales were offered to the trade in Week 35. The small increase in quantity did little to hinder the positive buying sentiment evident in recent sales.
The Benchmark Eastern Market Indicator set a record on the first selling day of 1834 Australian cents, easily surpassing the 1822 cents set in January. The EMI dropped 4 cents on the second day, closing at 1830 cents for an overall increase of 10 cents for the week. Also hitting record highs this week, in all three centers, were the individual Micron Price Guides for 21.0 and 22.0 micron.
In the eastern markets, record levels were also recorded in the 16.5, 19.0 and 20.0 MPGs. The prevalence of wools with very high mid breaks is continuing to rise. As the quantity of these lots increases, so too does the discount applied to them. In many cases, these wools are bringing 80 to 100 cents less than similar wools possessing more favorable additional measurement results.
The skirting market performed with mixed results. Wools carrying less than 2 percent vegetable matter and possessing good length and strength results were highly sought after and therefore dearer for the week. Faultier lots and wools with less favorable results were highly irregular, tending cheaper. The crossbred market also had varied results as 25.0 to 28.0 micron were generally 10 to 25 cents dearer. However, the broader types lost 10 to 15 cents.
The carding market suffered further corrections. All types and descriptions had general losses of between 10 and 30 Australian cents. The losses pushed the three carding indicators down by an average of 7 Australian cents.
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