Broader micron categories lose 20-30c at last wool auctions

Wool-3The AWEX EMI closed on 1277 – down 32c at Auction sales in Australia last week.

For the first time in 4 weeks the EMI fell below 1300c as the 48,409 bale offering came under some price pressure from early in the sale series.

The EMI closed on the opening day down 22c, whilst Wednesday’s EMI was a slightly slower downward trend (-9c) and Thursday saw some levelling out of the EMI as it fell 1c.

The weekly pass-in rate jumped to 16.1% as sellers resisted the price reduction which was accelerated by an appreciating AUD USD currency exchange which pushed back through the 78c barrier (+.86c). The EMI fell just 14c in USD terms to settle on 1000c.

Week by week, an increasing percentage of wool entering the weekly offering are from clips that have been held from the market, which now totals 5.6% more offered wool than the same time last year.

Merino Fleece saw the 18 and finer open 30-40 cheaper on the first day with the broader micron categories showing losses of 20-30c.

By the end of the week, the 18 MPG and finer posted losses of 40-60c whilst the broader merino MPG’s fell 20-50c. Once again, Melbourne sold in isolation on Thursday, with some consolidation of prices experienced in the Merino MPG’s.

Merino Skirtings opened slightly better than the fleece with the low VM with best specifications holding between 10 and 20c whilst the coarser, lots bearing heavier VM looked a little shaky towards the end of Tuesday’s sale. The remaining performance fell in line with the falls experienced in the corresponding fleece MPG’s.

Crossbred fleece experienced a 10-20c fall in price for the week, however the best prepared lots still attracted support from a wider range of buyers than that of the poorly classed and skirted lots and wool from composite sheep breeds.

Merino Cardings had a very mixed and conflicting national performance, with the Northern region MC falling 16c, the Southern region MC rising 14c and the Western region MC falling 56c. The Crossbred oddments market barely has a pulse especially in the coarser end but support was noticeably better in the Comeback and FXB lamb lots.

-Marty Moses, Moses and Son

UPCOMING SALES / EVENTS
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