The AWEX EMI closed last week on 1522c, down 3c at auction sales in Australia.
39,657 bales went under the hammer with sales commencing in Melbourne on Tuesday (due to Friday’s holiday in Melbourne in honour of the AFL grand final).
The Southern sale held in isolation proved to be a marketing blunder, with the majority of the MPG’s resulted in losses up to 25c after Tuesday’s close and was marred by a much higher pass in rate compared with the last two days.
As if Tuesday’s sale did not happen, Wednesday’s market opened with vigour with all centres offering and largely maintained last week’s levels. Sydney and Fremantle offered on Thursday with solid results highlighting the erroneous rostering strategy in the name of a football game.
The superfine and fine types remained firm to 15c dearer for the week in the northern region, with the medium MPG’s giving back 8c.
Skirtings mimicked the fleece whilst Crossbreds lost 15-28c in the 28-32 MPG. Cardings added 29c in the northern region and continue to be the weekly MVP (most valuable player).
Whilst the offering of high Mid-point break and diminishing staple strength continues to dominate the offering, the prices discounts for these lots is set to increase as it becomes more difficult to achieve the contract specifications.
This week Australian will offer 40,587 bales across three centres. Despite the Long weekend in NSW all centres will offer on Wednesday and Thursday, (now there’s a novel idea for orderly marketing).
-Marty Moses, Moses & Son, Temora