Crossbred Wools Carry AWEX EMI to Small Gains
November 30, 2018
The strong positive movement experienced in the previous week’s sale could not be sustained in Week 22. The quantity on offer was 34,513 bales, and the national offering is now down by 18 percent when compared to the corresponding sale of the previous season.
The merino fleece sector failed to attract the same amount of support that it enjoyed during last week’s sale. The result was price reductions, inferior style wool and wool with unfavorable additional measurement results the hardest hit in the falling market. Microns 18.5 through to 21.5 generally lost between 15 and 30 Australian cents for the series.
Although the merino fleece sector generally recorded losses, the AWEX Eastern Market Indicator managed a 2-cent increase for the week, to close at 1,860 Australian cents. However, this was mainly due to substantial rises in the crossbred sector. The skirtings went against the trend of the fleece and added further gains to those achieved last week. Prices achieved were generally 10 to 30 Australian cents above those achieved at the previous sale. Wool carrying less than 2 percent vegetable matter enjoyed the largest gains.
As previously mentioned, the crossbred sector recorded large rises this week. Strong demand helped push prices for wool 28.0 micron and finer up by 80 to 90 Australian cents. Better prepared lines received the greatest support and as a result enjoyed the largest increases.
The carding market continued its upward trend following large gains experienced in the previous week’s sale. Locks, stains and crutchings generally rose by 10 to 25 Australian cents. These rises helped pushed the three carding indicators up by an average of 12 cents.
Next week is the penultimate sale before the annual three-week Christmas break.
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