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Australian Wool Market Weekly Report (WK22)

From:Nanjing woolmarket       Date:2020-11-27 17:32:09       Share:

After many weeks of sharp fluctuations, the Australian wool market has had a much steadier week, with minimal price movements felt across most merino types and descriptions. Main buyer interest focussed on the better style wools and those with favourable additional measurement results, in particular wools with low CVH (variation in Hauter length). As a result of the good support in these types, they recorded very little change for the series. In contrast, the lower style, lower yielding wools and those with poor additional results (in particular high CVHs) did not garner the same support and were highly irregular, tending cheaper. These wools accounted for the majority of the of fleece wools that were passed in and also were a large factor in the overall negative movements in the some of the individual Micron Price Guides (MPGs). In the previous 10 selling days prior to this series, the EMI moved a total of 561 cents (in both positive and negative directions) an average movement of 56 cents per day. The stability of this week’s market is highlighted by the marginal movements in the EMI. The EMI lost 9 cents over the two selling days, an average of only 4.5 cents per day. The EMI closed the week at 1,150 cents, a fall of only 0.8% for the series. Worth noting, due to the strengthening of the Australian dollar, when viewed in US dollar terms, the EMI managed a positive movement, the EMI added 2 US cents, closing the week at 846 US cents. The crossbred sector did not attract the same level of support as the merinos, pushing prices down. The MPGs for 26.0 to 28.0 micron were reduced by between 15 and 40 cents. These losses contributed to the overall fall in the EMI. Next week’s national offering increases. Currently, there is 41,822 bales available to the trade in Sydney, Melbourne and Fremantle.