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Australian Wool Market Weekly Report (WK2)

From:Nanjing woolmarket       Date:2020-07-10 17:47:39       Share:

This week was the last auction buying opportunity for buyers for nearly a month, as next week is the beginning of the annual mid-year three-week recess. Any wool required for export orders during that time, needed to be purchased this week, pushing demand higher, as exporters fought hard over the wool on offer. Nationally there was 35,262 bales available, when compared to the previous season there has been 1,320 more bales offered, an increase of 2%. The increased demand helped to push prices higher across most merino fleece types. The individual Merino Price Guides (MPGs) across all three centres generally rose by 5 to 92 cents, the 17.5 micron MPG in the south recording the largest increase for the series. The only MPGs to fall for the series, were the 18.5 to 19.0 in the North and South which recorded 5 to 17 cent falls. The rises in the MPGs helped to push the AWEX Eastern Market Indicator (EMI) up by 18 cents for the series, the EMI closed the week at 1,134 cents, this was an 1.5% rise. When viewed in USD terms the increase was slightly higher, the EMI rose by 14 US cents to 787 US cents, a rise 1.8%. Most sellers were again keen to accept the prices on offer, the national passed in rate was only 6.2%. The EMI has now risen for two consecutive weeks, recording positive movements for the first two weeks of the 2020/21 selling season, gaining 24 cents over this time. The crossbred sector recorded very little change, most crossbred MPGs were unchanged from the previous week, only the 26.0 micron MPG in the South recorded movement, a 50 cent increases in this MPG equated to a 6% rise. As mentioned earlier, the annual mid-year three-week recess begins next week. Sales resume in the week beginning Monday the 3rd of August.