European and Indian buyers keep wool market buoyant

Merino-fleece

The 20µ micron wool sold to a top of 985c/kg greasy, or 1,288c/kg dry, whereas 21µ micron wool sold to a top of 944c/kg greasy or 1,290c/kg dry.

The national wool offering last week at physical selling centres was 54,899 bales (54,750 estimated) which was an increase from last week’s 48,760 bales.

The AWEX Eastern Market Indicator (EMI) recorded an 8c decrease on both Tuesday and Wednesday before recovering 1c on Thursday to finish at 1,306c/kg, or 1,008c/kg in US dollar terms.

Despite an increased offering, the pass in rate lowered to 12%, possibly due to an increased demand.

Demand in Australian wool markets from Chinese interests could have counteracted the increased supply and stopped the market from falling further, with many Chinese buyers active this week as well as several European and Indian buyers, keeping the market buoyant. A reduced estimated offering of 42,949 bales might see prices hold again next week if the strong support from exporters continues to hold.

The AuctionsPlus online offer board fell this week, with 328 bales sold for the period. Similar to last week, broader wool ranging from 20µ to 21µ micron were in the highest demand, with 159 20µ micron bales being sold, and 86 bales of 21µ micron wool.

The 20µ micron wool sold to a top of 985c/kg greasy, or 1,288c/kg dry, whereas 21µ micron wool sold to a top of 944c/kg greasy or 1,290c/kg dry.

The top priced lot online was for 4 bales of 17.3µ micron AAAM wool offered by Nutrien Ag Solutions – Victoria. This “VASEY FARM/G” branded line sold for 1,470c/kg greasy, or 1,971c/kg dry, was 71mm in length and had 0.1% vegetable matter.

-AuctionsPlus

UPCOMING SALES / EVENTS
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