Australian Wool Market Inconsistent, But Up Overall
January 18, 2019
Week 29 on the Australian wool selling program is the second sale of the calendar year and – due to the wool accumulated during the recent three-week recess – quantities remained high.
The final amount offered was 51,703 bales, which is the largest national offering since April of 2018.
Despite the last two weeks having a large amount of wool for sale, the overall national quantity is still well down on the previous season. When compared to the corresponding sale of 2018, the total amount of bales offered at auction was down by 175,524 bales – a reduction of 16.8 percent.
The merino fleece market was mixed in its performance. The three centers behaved slightly differently, with varied positive and negative movements recorded across the board. Although there was an inconsistent pattern, the overall trend was upward. This was reflected in the movement of the AWEX Eastern Market Indicator, which gained 13 cents for the series and closed the week at 1,923 Australian cents.
Skirtings managed to record upward movements generally between 20 and 40 cents, while wools coarser than 19 micron attracted the most attention and as a result enjoyed the largest gains. The crossbreds were the best performing sector for the week. Large gains of 50 to 80 Australian cents were experienced in the 26 to 28 micron range.
Similar to the fleece, the results in the oddments varied between centers. The North and West recorded 20 to 30 cent rises, while the South posted a small reduction. But, again, the overall trend was positive. Despite the strong market, the national offering reduces next week. Most of the wool is from sheep shorn in recent weeks, as the backlog of wool delivered during the break has been nearly cleared.
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