The AWEX EMI continued to power ahead adding 15c and closing the week at a new 23 year high rising to 1437c at auction sales in Australia.
The Designated superfine sale held in Sydney tried to satisfy the buyer’s insatiable appetite for the superior styled and measured lots.
Whilst the sub 19 microns fleece lots added between 25 and 50c, the best 17.5 and finer added over 80c on an already raging trend.
Conversely the medium merino MPG’s added 5-15c in all but the southern selling centre. The basis between 18 and 21 MPG is now over the 500c mark and will now instigate discussion for the need for classing the clip accordingly.
Skirtings followed the fleece trend, with isolated superfine lots over 100c dearer, whilst cardings resisted the fleece trend to inch ahead by 3-6c.
Crossbred’s continued to be bi-directional, with the 28 and finer showing some signs of a recovery but the 30-micron and coarser remained non-committal.
Next week Australia offers 47,583 bales, which should be met by the same support we have seen this week; however with reduced numbers of superfine and specialty lots being offered in the north, the finer MPG’s should be well supported.
The forward markets took up the market sentiment posting 30c rises in the front months however the spring business opportunities remained thin.
-Marty Moses, Moses and Son, Temora