Wool Fibre Market Review
Wool market review - week ending 16 December 2016 (Week 24)
The final sale of the first half of the wool selling season was held at Australian wool auctions this week. Wool auction sales will now be in recess for the next 3 weeks. On commencement of the week, this appeared to be pivotal point of the year which could determine the immediate prospects for the continuing good fortune for wool prices. Early thoughts were that one of the largest offerings in recent memory and the initial adverse foreign currency exchange direction were conspiring to prevent any improvement in price levels, but the entrenched strength of demand for our fibre came to the fore. Pleasingly for most of participants a very strong conclusion eventuated. In particular, the Merino sector displayed a competition that many buyers described as being one of the most positive finishes prior to a break seen for some time. On the back of this strength, the Eastern Market Indicator (EMI) pushed higher to close out at 1355ac clean/kg representing a gain of 6ac clean/kg.
Wool market review - week ending 9 December 2016 (Week 23)
A most extraordinary week at Australian wool auctions with wildly differing results being achieved on a day to day basis. In a nutshell, the market fell 50ac immediately upon opening, then firmed to remain relatively unchanged on the middle day and then rose 20ac on the final day. The adverse market movements were on the Merino fleece, carding and skirting sectors. The crossbred types experienced much better results and this segment saw levels improve by as much as 25ac clean/kg. The Eastern Market Indicator (EMI) fell 29ac clean/kg from the seasonal high level and concluded the week at 1349ac clean/kg.
Wool market review - week ending 25 November 2016 (Week 21)
An extraordinarily strong selling week at Australian wool auction markets. The Merino sector has a hit a sweet spot with our overseas customers with many buyers appearing to be bidding without a ceiling price at times this week. Prices rose constantly during selling in an auction week that saw all Merino types on offer 60 to 80ac clean/kg dearer by the close. Cardings came under pressure too and progressed 40ac clean/kg dearer and also pleasing to note was the 15ac clean/kg uplift in the broader crossbred types. The only casualty for the week was a very limited volume of crossbred wool 25.5 to 26.5 micron which dropped 20ac clean/kg on established price levels. The Eastern Market Indicator (EMI) advanced by 49ac clean/kg to conclude the week almost 4% higher at a seasonal high of 1363ac clean/kg.