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Australian Wool Market Weekly Report (WK9)

From:Nanjing woolmarket       Date:2020-08-28 17:08:44       Share:

The Australian wool market has recorded further overall losses this week. However, worth noting there was strengthening in some individual merino microns and in other sectors of the market. Due partly to the fact that the Western region did not have a sale this week, the national quantity reduced to 20,488 bales, this was 12,688 bales less than offered in the previous week. This was the smallest national offering of the 2020/21 season so far. When compared to the previous season there has been 3,806 fewer bales put through the auction system, a reduction of 1.9%. Within the merino fleece results varied for the series, depending on micron. The finer microns fared best, 18.0 micron and finer posted very minimal losses up to a 23 cent rise in the individual Micron Price Guide (MPG) for 17.0 micron in the South. The medium to broad microns were the hardest hit this series, the MPGs for 20 to 22 micron lost 34 to 54 cents for the series. The losses in this micron group was the driving factor for an overall loss in the AWEX Eastern Market Indicator (EMI), which fell by 16 cents for the series, closing at 929 cents. The EMI has now fallen 680 cents since the first sale of this calendar year, a drop of 42%. When compared to the corresponding sale of the previous season the EMI has fallen 446 cents, this equates to a 32.4% drop. After suffering heavy losses over the previous month, the oddments bounced back this week and were the best performing sector for the series. Solid rises in the South pushed the Merino Carding Indicator (MC) up by 42 cents, while the North recorded a modest rise of 6 cents. Fremantle returns to the roster next week, pushing the national quantity up. Currently, there is 32,958 bales on offer, with all three centres in operation.