Australian Wool Market Up Slightly
September 14, 2018
The AWEX Eastern Market Indicator crept 6 cents higher this week to finish at 2,094 Australian cents. On Wednesday it was tantalizingly close to breaking 2,100 cents for only the third time, however the 9-cent rise on that day saw it fall short by three cents before it eased by a similar margin on Thursday.
Trade interest this week was focused on the finer microns, which all added around 30 cents clean during the three days. The better types continued to attract attention amidst the drought in the eastern states affecting the offering. While key staple measurements (including strength and position of break) for Merino fleece types remain healthy, yield is showing the results of the drought and is around 2 percent lower (66 percent) when compared to the same time last year. The broader types (20, 21 and 22 microns) were approached more cautiously and these tended to lose ground, particularly on the final day.
Merino skirtings were reasonably resilient during the week and generally closed ahead of the previous sale. Crossbreds also lifted, while Merino cardings were generally a touch softer. Just more than 34,000 bales were offered this week – around 4,000 bales fewer than the last sale – which has contributed to a 13.4 percent decline in volumes when compared to the same period last season. Volumes are forecast to increase slightly next week when 36,561 bales are expected nationally in three selling centers.
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