The physical wool market steadied last week, which was also reflected on the AuctionsPlus offer board with demand remaining high for fine wools while other categories have relaxed.
The AWEX Eastern Market Indicator eased 9c on Tuesday then rose 3c on Wednesday to close out the selling week at 1285c/kg, or 979c/kg in US dollar terms, with the pass in rate sitting at 9.3% across the two selling days.
The western market at Fremantle saw consistent gains, up 15c on Tuesday and a further 6c on Wednesday, while Sydney and Melbourne experienced a drop on Tuesday, then a slight increase on Wednesday.
Demand persists from China, with encouraging activity from European and Indian markets occurring as well, which may assist in supporting the expected increase in supply predicted next week with 50,078 bales forecasted.
The AuctionsPlus offer board calmed this week in line with the physical markets with 641 bales sold for the period, after several weeks of high-volume sales.
The 16μ micron wool sold to a top of 1905c/kg greasy or 2588c/kg dry. A total of 126 bales of 17μ micron wool sold for the period, making up 20% of sales, selling to a top of 1480c/kg greasy or 2151c/kg dry.
The top priced lot online was offered by Jemalong Wool and was “FINCHLEY/CRAIGIE” branded. This lot of 16μ micron wool sold for 1905c/kg greasy or 2588c/kg dry, had 0.3% vegetable matter and was 90mm in length.
-AuctionsPlus