Crossbred types were well supported as were the Cardings on the opening sale day where they lost a 5-10c under some pressure then firmed up on closing.
The AWEX EMI fell 10c to close on 1258c at auctions sales in Australia last week.
Once again the primary cause of the price fall has been contributed the strengthening AUD which posted a 2c rise over the wool selling week.
The AUD closed out on Thursday at 73.20c making the EMI in USD terms up 9c now at 919 USc.
Just under 40,000 bales went under the hammer with the finer MPG came under pressure with a less stylish offering on offer this week compared to the Superfine offering of last week.
Whilst the medium quality Merino lots attracted better support only drifting a few cents each day from the previous week’s level.
Skirtings followed the Fleece trend whilst Crossbred types were well supported as were the Cardings on the opening sale day where they lost a 5-10c under some pressure then firmed up on closing.
This week’s offering of 42,000 bales should be met with good support from the Chinese and European buyers given the AUD may give back some of its gains of the past few weeks.
Forwards trade was more subdued this week however, there were some front month trade transacted at spot price or slightly better for late March and April delivery.
-Marty Moses, Moses and Son, Temora