Chinese buying confidence firms in wool market

Wool-3

The 20µ micron wool sold strongly with 283 bales selling to a top of 1,050c/kg greasy or 1,408c/kg dry.

National wool listings fell last week as the Tasmania feature ceased.

With numbers boosted slightly by the inclusion of a New Zealand offering that totalled 1,673 bales, firming the week to close at 46,049 bales.

The AWEX Eastern Market Indicator climbed 17c on Tuesday, 23c on Wednesday and a further 3c on Thursday to close out the selling week at 1,318c/kg, or 1,022c in US dollar terms.

The pass in rate fell slightly to 10.2% this week, matching the reduced offering and market demand.

The Chinese appetite was emphasised further this week firming buyer confidence and leading to an increased offering next week, with an estimated 48,877 bales to be offered.

The AuctionsPlus offer board saw jump in activity this week, selling 1,095 bales for the period.

The 82 bales of 17µ micron wool sold for the week to a top of 1,490c/kg greasy or 1,974c/kg dry.

The 20µ micron wool sold strongly with 283 bales selling to a top of 1,050c/kg greasy or 1,408c/kg dry.

The top priced lot sold online this week was a lot of 13.5µ micron wool which sold for 1,900c/kg greasy or 2,513c/kg dry.

This lot was “B IN A HORSESHOE” branded with 0.4% vegetable matter, 58mm in length and was offered by Australian Wool Network.

-AuctionsPlus

UPCOMING SALES / EVENTS
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