Finer Microns Enjoy Solid Week in Mixed Market
October 20, 2017
For the first time in many weeks, the market performed with mixed results. Although the Benchmark Eastern Market Indicator recorded little movement – up 2 cents from the previous week – there was considerable market activity.
Micron became the major focus for buyers and this was reflected in price movements. Most interest was in the finer types – 19.0 micron and finer – and these types recorded general price increases of between 10 and 40 cents. The medium to coarse microns – 20.0 to 23.0 – lacked the same buyer support and continually lost ground as the week progressed. These types generally fell by 20 to 30 cents when compared to the previous sale.
In recent months, the different micron groups have tracked relatively close together – rising or falling at a similar rate. As the micron groups tracked in opposite directions this week, the price differentials once again started to increase. The premiums on offer for finer wools are becoming larger – currently the difference between an 18.0 and a 21.0 micron is out to nearly 600 cents.
The skirtings followed a similar path to the fleece, the finer the micron the greater the price rise, generally between 30 and 60 cents. Wools exhibiting less vegetable matter – particularly less than 2 percent – also sold very well as buyers looked for fleece substitutes.
With the focus on micron, it is not surprising that the crossbred sector struggled. It continued its downward trend – all types and descriptions generally fell 5 to 25 cents. Better prepared lines found the most support and the smallest losses. The oddment market continued its run of increases. Another limited selection came under intense buying pressure. Although all types and descriptions recorded positive movements, it was the finer types which enjoyed the greatest increases.