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Australian Wool Market Weekly Report (WK33)

From:Nanjing woolmarket       Date:2020-02-14 10:26:35       Share:

The Australian wool market has been unable to sustain its upward trajectory, with losses felt across the entire facet of merino types and microns. 40,176 bales were available to the trade, the national offering is still well down on the previous season. Compared to the corresponding sale of last year, there has been 96,438 fewer bales offered through auction, a reduction of 9.3%. Melbourne opened proceedings on Tuesday with the first designated Tasmanian sale of the calendar year, over 60% of the offering was Tasmanian grown and stored wool, with a large selection of 16.0 to 19.0 micron Spinners / Best style wools with yields averaging well over 70% dry. These specialty lots were in keen demand, pushing prices higher. These increases helped to push the Southern individual Micron Price Guides (MPGs) prices up by 2 to 11 cents for the day. As Sydney and Fremantle joined Melbourne on the second and third selling days, main buyer focus was again centred on the good / best style wools with favourable additional measurement results, due to the strong attention these lots received they recorded minimal change for the series. Lesser style wools and those with poor additional measurement results did not receive the same support, continually losing ground as the series progressed. Some lots with very high mid breaks (greater than 85) sold at levels 100 to 150 cents below similar spec lots containing mid breaks of less than 40. The AWEX Eastern Market Indicator (EMI) fell by 9 cents for the series, closing at 1,568 cents. The crossbred sector was the only shining light of the series, strong demand helped to push the 26 to 30 micron MPGs up by 15 to 56 cents. Next week’s national offering increases slightly 42,770 bales, with all three centres in operation, Melbourne will again sell over three days to accommodate the increased quantity.