Elders
Season 18 – Week 2
Source: Australian Wool Exchange (AWEX)
Week 2 marked the final selling week before the annual mid-year three-week recess.
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The buying sentiment could best be described as cautious, following the significant losses experienced in the previous sale.
This cautious approach resulted in a softer tone, which was evident from the outset.
Wool was discounted on all types and descriptions, across the entire merino spectrum.
Prices generally fell by 10 to 30 cents for the week.
Lots possessing favourable additional measurement results; however, in particular those with a cvh of less than 42 still attracted excellent support due to their minimal availability and recorded minimal change for the series.
Although some selected wools held up well, overall the market still headed further into negative territory.
The benchmark Eastern Market Indicator (EMI) lost 13 cents, to close at 1981 cents.
The Eastern Market Indicator has now lost 75 cents over the previous two sales.
Worth noting however, despite the fact that the market lost ground for the week, toward the end of the sale a positive sentiment returned.
So much so that the Northern Region recorded a 3 cent increase on the final selling day and the Southern Region posted a minimal 3 cent loss.
The skirtings generally dropped by 10 to 20 cents, lots with vegetable matter (VM) greater than 4.0 percent most affected.
A limited offering of skirtings 19.5 micron and coarser, with less than 3.0 percent vm managed small increases for the week.
The crossbred sector performed with mixed results. 28.0 micron fell by 20 to 40 cents, 30.0 micron rose by 10 to 20 cents and all other microns were firm unchanged.
A limited offering of cardings generally eased by 20 to 30 cents.
As previously mentioned, the market now enters into a three-week recess. Sales resume the week beginning Monday August 6.