Australian Wool Market Shows Increase in Week 20
November 16, 2018
The AWEX Eastern Market Indicator recorded an increase for the first time in more than a month in Week 20. However, the increase was mainly a result of solid gains in the carding and crossbred sectors.
The merino fleece market performed with mixed results, with all three centers recording varied outcomes for similar wools. A large selection of fine tender wools struggled to attract strong buyer demand. This contributed to the Micron Price Guides of 19.0 and finer generally falling by 30 to 50 Australian cents. Wools 19.5 to 20.5 micron attracted excellent competition and managed modest increases for the week, while a limited selection of 21.0 micron and coarser were generally unchanged when compared to the previous sale.
The EMI recorded a 5-cent increase, to close the week at 1,781 Australian cents. As a result of the finer microns suffering larger losses in the previous months, the price differentials between microns has shrunk considerably. This is best highlighted when looking at the difference between the MPGs of a 19.0 and a 21.0 micron. Currently, this difference is averaging only 47 cents, compared to more than 110 cents when the MPGs peaked back in August.
The skirtings had an up and down week, losses were felt on the first selling day, then gains on the second, resulting in prices being generally unchanged. As mentioned earlier, the crossbred sector recorded gains for the week. Prices generally increased by 5 to 25 Australian cents, with the largest gains felt on the better-prepared lines.
After two months of continual losses, the oddment sector has finally recorded price increases. Locks, stains and crutchings generally rose by 50 to 120 cents. These rises helped to push the three carding indicators up by an average of 89 Australian cents.
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