Competition in the room was more evident especially the Merino Fleece and Skirtings as the Export Trading house went head to head with the large Chinese Processors for the new season offerings.
Last week saw a few clips coming through of the new season’s super fine and ultra-fine speciality Merino types.
Most of these wools were exceptional in quality and had mainly Italian buyer representatives competing fiercely for the few bales on offer.
Prices were in premium territory with early indications putting these fleece wool lots at a 300 – 400c/kg clean premium above the published MPG range.
With 4 sales completed for the 22-23 season and the total amount offered is tracking well above the previous season, there has been 204,219 bales put through the auction system – an increase of 20,350 bales – 11.1% more than the corresponding sale of last year.
The AWEX EMI closed on 1342c, maintaining last week’s closing level at auction sales in Australia this week.
After an early estimate offering of 49,338, just 44,786 bales went under the hammer with over 90% cleared to the trade which is an improvement of 12% over last week’s clearance.
Competition in the room was more evident especially the Merino Fleece and Skirtings as the Export Trading house went head to head with the large Chinese Processors for the new season offerings.
The currency exchange was in favour of the local wool prices and despite the EMI maintaining last week’s AUD price level, it dropped 18USc.
Merino Fleece saw better competition on the 16-17 MPG’s and the 19-21 MPG’s whilst some pressure came on from the exporter in the 17.5-18.5μ range.
The Chinese Topmakers and indents opened the accounts early in the week continuing their purchasing trajectory from last week. The large trading export houses entered the buying arena by the end of the week pushing the Chinese Topmakers for the suitable lots.
Comments from the a few exporters on the number of lots testing over length for the Chinese specifications has been acknowledged as impact from the season on the eastern sea board.
Merino Skirtings: Exporters remained selective in their purchasing early in the week however as the week progressed, there was some relaxing of qualifying specifications.
Crossbreds remained relatively static on the better specified and classed lots. Lots that are poorly specified and/or poorly classed remain largely neglected.
Merino Cardings fell 7c and 6c respectively in the North and South markets whilst the Fremantle offering held firm.
Last week saw a few clips coming through of the new season’s super fine and ultra-fine speciality Merino types. Most of these wools were exceptional in quality and had mainly Italian buyer representatives competing fiercely for the few bales on offer.
Prices were in premium territory with early indications putting these fleece wool lots at a 300 – 400c/kg clean premium above the published MPG range.
With 4 sales completed for the 22-23 season and the total amount offered is tracking well above the previous season, there has been 204,219 bales put through the auction system – an increase of 20,350 bales – 11.1% more than the corresponding sale of last year.
This week 40,116 bales have been catalogued with only Sydney and Melbourne in operation. Week 8 is also host to the annual Wool Week, giving industry stakeholders the opportunity to come together at a series of events held in Melbourne.
~ Marty Moses