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Australian Wool Market Weekly Report (WK16)

From:Nanjing woolmarket       Date:2020-10-26 15:34:27       Share:

The Australian wool market has recorded large upward movements this week, with all sectors of the market again posting positive results. The merino fleece attracted strong widespread competition, pushing prices continually higher across all microns and descriptions. As buyers fought hard to secure quantity, the market continued to rise until the final hammer. So much so, that in a very rare occurrence, by the end of the week the individual Micron Price Guides (MPGs) in the West (which sold last) for 18.0 through to 20.0 micron were higher than in the East. As Fremantle only sold over one day, all these gains were experienced on Wednesday, the Western Indicator rose by 113 cents, the largest daily rise in the Western indicator since September last year. Across the country the MPGs for 16.5 to 21.0 micron gained 102 to 158 cents. The AWEX Eastern Market Indicator (EMI) rose by 95 cents for the series, closing the week at 1,117 cents. The EMI has now risen for five out the last six series, gaining a total of 259 cents over this period, an increase of 30.2%. The significant price rises helped to lower the passed in rate, the national passed in rate was only 2.4%. The skirting market again followed a similar path to the fleece, strong demand pushed prices up by 100 to 160 cents, 18.0 micron and finer enjoying the largest rises. The crossbreds recorded further rises but not to the same extent as their merino cousins. The MPGs for 26.0 to 30.0 micron added between 11 and 60 cents for the series. General increases in locks, stains and crutchings of 30 to 50 cents, pushed the merino carding indicators up by an average of 37 cents. The large price rises have enticed more sellers to the market, pushing the national offering higher. There is currently 34,093 bales on offer.