Recent business conducted with overseas mills saw the wool market gain ground last week.
This AWEX EMI gained 25c and then eased 6c on Wednesday and Thursday respectively, to close off at 1574ac or 1070usc.
Compared to this same point last year the AWEX EMI is sitting 207c lower, where the EMI closed off on the 15th November 2018 at 1781c.
This week’s market strength saw buyers flow online, with 755 bales selling on AuctionsPlus Wool. Online 16µ and 17µ micron fleece wool sold to 1555c and 1499c greasy or 2079c and 1985c dry.
18µ and 19µ micron fleece wool sold to 1425c and 1365c greasy or 1926c and 1813c dry. While 20µ and 21µ micron fleece wool sold to 1345c and 1240c greasy or 1740c and 1717c dry. 17µ and 18µ micron Merino pieces sold to 1075c and 1110c greasy or 1759c and 1708c dry.
19µ and 20µ micron Merino pieces sold to 890c and 700c greasy or 1581c and 1452c dry.
The top price lot online this week was a line of 15.9µ micron AAA Australian Superfine wool. This lot was offered by Australian Wool Network.
It was 73mm in length, with 1.8% vm, was branded ROYSLEA J ON ITS SIDE IN A CIR, and sold for 1600c greasy or 2192c dry. The top-priced lot of pieces was a line of 16.3µ which was branded FISHINGTON/NE, offered by Landmark Sydney and sold for 1355c greasy or 1944c dry. Looking forward, there is an estimated 38,000 on offer across the country.
The current yo-yoing of the market is seeing the ‘lucky’ growers catching the market on an upswing and the ‘unlucky’ growers hitting the market on a downswing.
This offers no consistency for growers, brokers or buyers alike, however with an extremely volatile global market place impacting consumer confidence there is no clear picture in sight of when this will end