Elders
Season 18 – Week 14
Source: Australian Wool Exchange (AWEX)
The Australian wool market has continued to track downward in Week 14.
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The national offering increased to 39,261 bales.
This was the highest amount since Week 6, which fell directly after the mid-year three-week recess.
It was the superfine types that were hardest hit.
The finer the wool, the greater the losses: 16.5 micron and finer were 90 to 100 cents easier, 17.0 to 18.0 micron were generally 40 to 80 cents cheaper.
Strong demand for 19.5 to 21.5 micron, resulted in these types recording gains of 5 to 15 cents for the week.
The Eastern Market Indicator (EMI) lost 21 cents for the series, to close at 1992 cents.
The Eastern Market Indicator has now fallen for three consecutive weeks, losing a total of 102 cents.
It is difficult to attribute these losses to currency movements, highlighted by the fact that, when viewed in US dollar terms, the Eastern Market Indicator over the same period has fallen by 93 USc/kg.
Despite the Eastern Market Indicator recording overall losses for the week, there were positive signs apparent later in the series.
The Northern and Southern indicators were basically unchanged on the second selling day.
Fremantle, which finished off the selling for the week, recorded overall positive movement on the last day, pushing the Western indicator up a healthy 17 cents.
The skirting sector had a week of mixed results. Wool carrying less than 2 percent vegetable matter (vm) attracted spirited bidding, resulting in gains for the week of 20 to 30 cents.
As the amount of vegetable matter increased, buyer demand decreased, causing prices to generally fall by 20 to 40 cents; lots with more than 8.0 percent vm most affected.
The oddments continued to record further losses, prices generally fell by 35 to 50 cents.
Quantities reduce in Week 15: there are 34,467 bales rostered for sale in Sydney, Melbourne and Fremantle.