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Australian Wool Market Weekly Report (WK11)

From:Nanjing woolmarket       Date:2020-09-11 16:23:52       Share:

After 5 weeks of successive losses the Australian wool market has recorded positive movement this series, with all sectors of the market posting gains. With Sydney and Fremantle only requiring one day of selling, the national quantity reduced. There was 19,654 bales on offer, this was 9,345 bales less than the previous week. Sales opened on the first selling day with only Sydney and Melbourne in operation. The reduced offering attracted spirited bidding from the outset, the increased buyer sentiment pushed prices higher. By the end of the first day, the individual merino fleece Micron Price Guides (MPGs) in the Eastern centres had risen by 27 to 53 cents. On the back of these rises the AWEX Eastern Market Indicator (EMI) gained 39 cents for the day, a rise of 4.5%. In percentage terms this was the largest rise in the EMI since January. The second day of selling, only Melbourne and Fremantle were in operation. As Fremantle did not enjoy the rises of the previous day, the MPGs in the West gained 25 to 39 cents. Melbourne however, could not sustain its upward movement, the Southern merino fleece MPGs lost between 1 and 22 cents. The EMI lost 7 cents for the day, but still managed an overall positive movement for the week, gaining 32 cents for the series, closing at 890 cents. The skirtings followed a similar path to the fleece, most types and descriptions generally added 30 to 40 cents for the week. The crossbreds enjoyed the largest gains (in percentage terms) this series, the 26.0 to 30.0 micron MPGs gained 25 to 46 cents. All three Merino Carding Indicators (MC) also recorded positive movement this week. The national quantity increases next week to 33,558 bales. Fremantle again only requiring one-day of selling (Wednesday), Sydney and Melbourne in operation over both days.