Better types along with higher VM pieces and bellies started to drift off as the week progressed.
The AWEX Northern Regional Indicator posted its seventh consecutive loss, to close at 1365c making it the longest period of decline wool market for three years.
Uncertainty regarding demand and rising energy costs are two issues hobbling this market let alone the costs and issues involved with shipping wools out of the country.
In contrast, cotton has fallen 10% in price this week whereas wool has seen a drop of 2%. Modest by comparison however each micron group was affected by diminishing values.
Sales resume on Wednesday and Thursday with approximately 32,000 bales on offer nationally.
Merino Fleece
Generally down 10 to 30 cents with the lower spec types i.e. tender, higher VM attracting the most discount. Best Top makers types in the 17 and 18 micron offerings, found good support but had to be over 40 NKT in order to garner this attention.
Merino Skirtings
Somewhat steadier than their fleece counterparts, however better types along with higher VM pieces and bellies started to drift off as the week progressed. The West bucked the trend and saw a rise of 5 cents however this is based on a very limited offering.
Merino Cardings
Generally fully firm with Melbourne seeing a rise across better style Locks and Crutchings by 10 to 15 cents. Once again the West went against the trend with these types falling by 15 to 20 cents.
Crossbreds
Struggling to maintain the prior week’s levels Crossbreds saw another fall of 5 to 10 in the North with the South losing 10 to 15 cents. Unskirted and unclassed lots, regardless of micron are receiving little to no favour amongst the trade in both the North and the South.
~ Andrew Miller, Moses and Son