Lacklustre demand plagues wool industry

Merino-fleeceThe Australian wool market continued its downward trajectory last week.

Lacklustre overseas demand due to COVID is plaguing the industry.

At home the market downturn was reflected by the AWEX Eastern Market Indicator losing 46c and 25c on Tuesday and Wednesday to fall to 858c, or in US dollar temrs 631c.

An average of 21.5% pass-in rate across the week highlights that there is still a level of growers who are unwilling to sell their wool at the current levels.

The AuctionsPlus online offer board was used sporadically this week, with 108 bales selling over the last 7 days.

It is worth noting that of the 108, 80% were sold in a flurry of buying activity today.

Online 18µ and 19µ micron fleece wool sold up to 670c and 590c greasy or 1001c and 915c dry; whole 20µ and 21µ micron fleece wool sold up to 615c and 626c greasy or 923c and 929c dry.

The top priced lot online this week was a line of 15.8µ AAA Merino Weaners fleece. This lot was 73mm in length and offered by Elders Wool. This lot sold for 840c greasy or 1458c dry and was branded EYREBRAE.

-AuctionsPlus

UPCOMING SALES / EVENTS
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