Australian Wool Market Bounces Back in Week 15
After tracking downward the previous three weeks, the Australian wool market bounced back into positive territory in Week 15. Although the Merino sector recorded overall losses at the previous sale, there were positive signs toward the end of this week – especially in the Western region, which recorded healthy increases on the final day.
This positive tone was evident from the beginning of this series. As buyer confidence increased, so too did the prices. The strongest demand was for a limited supply of wool 20.0 micron and coarser, pushing these types up by 20 to 95 Australian cents with the largest increases seen in Melbourne.
The AWEX Eastern Market Indicator rose for the first time in a month as it recorded an increase of 31 cents for the series, to close the week at 2,023 Australian cents. Overall the Merinos recorded increases, but a large national selection of fine tender wool struggled to attract sufficient demand. The better style and spec wools sold at similar levels to the previous sale.
Concern about an oversupply of fine skirtings – due to harsh growing conditions – pushed the broader types higher by up to 100 Australian cents. The higher vegetable matter types enjoyed the largest gains, as buyers attempted to secure meaningful quantity of a limited selection. The crossbreds had an overall positive sale as most types and descriptions posted gains. Only 28.0 micron failed to record increases for the week.
The oddment sector was again the poorest performer this sale. Despite having different results in each center, overall the three carding indicators fell by 6 Australian cents.
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