Best stylish superfine lots shift up 100-350c/kg

Wool-3

Bidding for the Summer and into the new year could see trading for the 19.0 micron index reach 2250 presenting opportunities for growers.

The AWEX EMI resumed its upward trajectory closing the week on 2090c adding 22c to the previous sale total.

Whilst the EMI fell 3c in USc it was a much more settled market environment that experienced over the past month.

Merino Fleece measured price increases between 6-60c as buyers immediately got down to the business of securing wool.

The Superfine series drew out some extremely choice lots from the northern and southern tablelands, which excited the European exporters immensely and resulted in the best specified and stylish lots adding 100-350c over the average style this week.

Skirtings were also keenly sought, especially lots displaying good length and low VM. Crossbreds on offer was the smallest number of bales this season and resulted in 10c rise, however some isolated northern MPG’s increasing up to 35c. Cardings joined the superfine offering as the weekly star performer.

General rises of 40-60c were experienced for the week and took the MC Indicator into new record territory.

Michael Avery from SAW reports: – The forward markets traded in light volume as the spot market looked to steady after three volatile weeks to open the new season.

Bidding improved as the week progressed and a few growers took advantage hedging 21.0 November at 2175 and December at 2160. 19.0 traded 2220 for February and 2200 for April.

Interest in the fine wools at the spot auction has seen it flow into the New Year forwards. Bidding for the Summer and into the new year could see trading for the 19.0 micron index reach 2250 presenting opportunities for growers.
The week experienced a curve-ball in the selling program which was scheduled a Wednesday – Thursday series for the eastern states.

However a large warehouse fire and associated exclusion zone around the Melbourne auction facility on Thursday resulted in a postponement of that sale-day to Friday.

It was one of only three Friday sales in the history of AWEX (since 1995) and the first postponement of a sale since the 9-11 New York terrorist attacks in 2001. Hence the lateness of the Market report issue date this week.

Next week 39,293 bales will be offered in Sydney Melbourne and Fremantle. The focus will almost certainly turn to the Australian Wool Production Forecasting Committee who’s latest forecast predicts that Australian shorn wool production in 2018/19 will be 322kg greasy, down by 5.7% on the Committee’s estimate for 2017/18.

The continuing dry conditions across most of the country resulted in a 10% increase in sheep and lamb turn-off last season compared with 2016/17. Sheep slaughter increased by 28% year-on-year and lamb slaughter increased by 5%.

This high turnoff of sheep and lambs is expected to reduce the number of sheep shorn in 2018/19 by 3.2%. Whilst there was some rain measured at the beginning of the weekend the eastern states sheep and wool enterprises still face many months of hard decisions, elevated labour, grain and fodder costs to maintain the meals on wheels. With the price of wool as the dangling carrot, we can only hope there is more rain coming soon.

-Marty Moses, Moses and Son

UPCOMING SALES / EVENTS
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