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Australian Wool Market Weekly Report (WK12)

From:Nanjing woolmarket       Date:2020-09-18 16:52:16       Share:

The Australian wool market has recorded solid price increases for the second consecutive week, with all sectors of the market again recording gains. The national quantity increased to 29,408 bales, compared to the previous season the total number of bales offered is only 587 higher, a marginal rise of 0.2%. The larger offering attracted very strong widespread competition. From the opening hammer, it was immediately apparent that price increases were again on the cards. By the end of the series the individual Micron Price Guides (MPGs) across the country rose by 30 to 117 cents. These solid increases helped to push the AWEX Eastern Market Indicator (EMI) up by 47 cents to 937 cents. This equated to a 5.3% rise in the EMI, this was the largest weekly rise (in percentage terms) since September last year. Due to a strengthening Australian dollar, when viewed in USD terms the rise in the EMI was higher, a 43 US cent rise an increase of 6.7%. In a positive sign for the following week, the Fremantle region selling last, continually strengthened as the sale progressed. So much so, that the Fremantle MPGs for 19.0 to 21.0 micron closed at higher levels than those in Sydney and Melbourne. The skirtings again followed a similar path to the fleece, recording solid increases, generally between 40 and 60 cents. The crossbreds also made further price improvements, the crossbred MPGs gained between 9 and 55 cents for the series, 28.0 micron and finer recording the highest gains. Solid gains for locks, stains and crutchings pushed the three merino carding indicators (MC) up by an average of 30 cents. The national quantity decreases next week to 25,030 bales. Fremantle again only requiring one-day of selling (Wednesday), Sydney and Melbourne in operation over both days. Sydney is a designated superfine sale.