A strengthening Aussie dollar resulted in Australian wool falling out of favour with exporters as the week’s offerings were met with strong seller resistance.
National wool listings increased last week with the inclusion of a designated Australian Superfine Sale.
The 4,089 bales boost saw a total of 50,138 bales offered for the week.
The AWEX Eastern Market Indicator fell 8c on Tuesday, was steady on Wednesday and fell a further 4c on Thursday to close out the selling week at ,1306c/kg, or 1,040c in US dollar terms.
The increased offerings pushed the pass in rate up to 19.1% for the week.
A strengthening Aussie dollar resulted in Australian wool falling out of favour with exporters as the week’s offerings were met with strong seller resistance.
With a careful tone trending the week’s offering, it will be interesting to see how the expected increase in offering, to 52,656 bales, will fair next week.
Online Offer Board Results
The AuctionsPlus offer board activity decreased this week, selling 474 bales for the period.
A total of 89 bales of 17µ and 18µ micron wool sold for the week to a top of 1370c/kg greasy or 1903c/kg dry.
The 20µ micron wool sold strongly with 138 bales selling to a top of 1002c/kg greasy or 1363c/kg dry.
The top priced lot sold online this week was 17.7µ micron Merino Fleece AAAM wool which sold for 1370c/kg greasy or 1903c/kg dry.
This lot was “WALWA” branded with 0.2% vegetable matter, 99mm in length and was offered by Australian Wool Network.