Strong prices in the Merino fleece sector drives solid increase in wool market


The Australian wool market recorded an overall solid increase last week, driven by strong prices in the merino fleece sector.

On Tuesday in Sydney, a modest Merino fleece auction saw price increases as the sale advanced. The upward trend continued on Wednesday, resulting in notable gains by the end of the week, with the 18 and 19 µm MPGs rising by 31 and 26 cents, respectively.
The AWEX EMI closed on 1172c, up 14c at auction sales in Australia last week.

Once again, the offering failed to achieve the early estimate of 41,154 bales, with just 37,289 bales eventually being offered resulting in 95.6% of the offering cleared to the trade.

Merino Skirtings Stylish Merino skirtings with favourable length and good colour attracted keen demand. Lots carrying cotts struggled for competition.

Crossbreds Crossbred wool had a good week overall. The 28-micron Merino Price Guide (MPG) increased by 6 cents, while other MPGs remained steady. Oddments stayed the same on Tuesday, but crutchings and locks showed an upward trend on Wednesday.
This week’s quantity is forecast to rise, due in part to the sellers being encouraged to the market. As all centres no longer move if one centre has a local Public Holiday, this week is an unusual selling pattern. Sydney and Fremantle will sell on Tuesday/Wednesday while Melbourne will sell Wednesday/Thursday, to accommodate the Melbourne Monday public holiday.

-Marty Moses