Wool market bounces back to 2017 levels

ewe-lamb-woolThe wool market has bounced back to see the largest rise since AWEX began reporting back in 1995.

The market had gains across all categories as commission buyers led the way and were followed by traders and other overseas mills.

The market recovered back to a point close to where it was at in late 2017.

The positivity was reflected by the AWEX EMI gaining 130c and then 40c on Wednesday and Thursday to close off at 1535c.

In West Australian, the indicator rose by 242c to close off at 1625c. The US/China trade war is still heavily influencing the market however it is reported that overseas mills rushed the market.

Buyers headed to AuctionsPlus Wool and scrambled to fill orders. This saw 1,509 bales sell throughout the week.

Online, 15µ and 17µ micron fleece wool sold up to 1210c and 1253c greasy or 1955c and 1800c dry; 18µ and 19µ micron fleece wool sold up to 1330c and 1200c greasy or 1855c and 1714c dry. 20µ and 21µ micron fleece wool sold up to 1270c and 1200c greasy or 1789c and 1765c dry.

-AuctionsPlus

The top priced lot sold online last week was a line of SUP AAAA 16.4µ micron fleece wool with 0.3% vegetable matter.

This lot was offered by Landmark Sydney, branded TA/F IN DIA/CONGI/NEW ENGLAND and sold for 1615c greasy or 2307c dry.

Carding and combing wools also sold online last week. Merino pieces were topped by a line of 16.6µ micron with 1.6% vegetable matter, selling for 1020c greasy or 1648c dry. 18µ and 19µ micron Merino pieces sold up to 830c and 700c greasy or 1436c and 1289c dry.

Looking forward, the overall wool market is in for a rocky road. Until the trade war is resolved the market will continue to be volatile. Sharp rises and falls like the last few weeks should not be unexpected.

UPCOMING SALES / EVENTS
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