This week was originally scheduled as the Easter recess at the Australian wool market, but the decision was made to schedule a sale to provide another opportunity for growers wanting or needing to sell. Brokers were encouraged to only offer wool from genuine motivated sellers, in an effort to keep the national offering down. The single-day sale saw all three selling centres operate.
Just about 77% of the national offering of 18,097 bales were cleared and most were poorer style wools that were discounted.
The EMI lost 9 cents to close at 1,292 AUD cents a kg clean or 828 US cents a kg, up 31 US cents. The Sydney and Melbourne markets opened strongly before weakening as the day progressed. The Fremantle market took the lead from the Eastern states and suffered the greatest price falls. The AWEX reported turnover of wool sold at AUD$19.67m, taking the season’s total to AUD$1,727.71m.
In Sydney, lower style lots dominated the selection and prices for these lots eased. Buyers sought out the limited quantity of best style lots with favourable additional measurements and this demand led to price movements across the microns easing slightly. Merino skirtings eased with finer lots (<18.0 µm) most affected. The crossbreds lost marginally while oddments were mixed. The Northern Regional Indicator lost 8 cents to 1,325 AUD cents a kg clean with a clearance rate of 76% as against 86% last week.
In Melbourne, prices were up among the finer microns (< 19.5 µm) while broader microns lost. The price movements reflected the mix of lots on offer, with demand for stylish, well-measured lots tending to offset discounts applied to low yielding, poorly measured lots. Finer merino skirtings (<17.5 µm) gained on the back of solid demand with the broader types unchanged. Large price falls were seen in the crossbred sector, with poorly prepared lots most affected. The oddment sector softened with locks falling. The Southern Regional Indicator eased 12 cents to 1,270 AUD cents a kg clean with a clearance rate of 88%, as against 86% last week.
In Fremantle, sales recorded the largest losses this week, with price falls across all microns except for the 21 µm, which saw some gains. Finer merino skirtings (<19.0 µm) gained while broader lots remained at the previous week’s levels. The limited selection of oddments saw locks ease with other categories unchanged. The Western Regional Indicator fell 14 cents to close the week at 1,370 AUD cents a kg clean, with a lower clearance rate of 69% as against 91% last week.
A two-day sale is scheduled for next week with 31,517 bales on offer across all three centres.
