Australian Wool Market Down This Week
September 1, 2017
The national quantity increased to 45,838 bales as the Fremantle region returned after a one-week recess. The Sydney and Melbourne markets opened proceedings and prices were quickly and immediately discounted as the downward trend evident the previous few weeks continued to open the week.
A variety of micron ranges – from 18.0 micron all the way to 23.0 micron – experienced general losses of 25 to 50 cents, with lesser style and spec lots again posting the biggest falls. The best style and strength lots in the 17.0 micron and finer range managed to record small gains, however this did little to halt the fall of the benchmark Eastern Market Indicator. The EMI closed at 1549 cents, 23 cents lower than the previous sale.
The trend was reversed on the second day and the market started to record positive movements. Gains were realized across all microns, with the entire merino spectrum selling at levels 10 to 20 cents above those achieved on the opening day. The EMI managed a 9-cent rise for the day and finished the week at 1558 cents, an overall loss of 14 cents.
The skirting market suffered further falls this week and prices were generally reduced by 20 to 30 cents. Wools carrying more than 3 percent vegetable matter continued to be the most affected. The crossbred sector also suffered losses on both days. General reductions of 15 to 30 cents were realized from 25.0 through to 32.0 micron. The oddment market continued to fall with most types and descriptions dropping 15 to 20 cents.
Next week the size of the national offering reduces slightly, currently there is 42,872 rostered for sale in Sydney, Melbourne and Fremantle.