Australian Wool Market Unchanged in Steady Week
September 22, 2017
After the rises and falls of recent sales, the Australian Wool Market had what could best be described as a solid, steady week. On the first selling day, the Benchmark Eastern Market Indicator managed a modest 2-cent rise, closing at 1527 cents. The second day brought more of the same. The EMI gave back the 2 cents it gained, closing the week unchanged at 1525 cents.
There has been a gradual increase in the number of wools exhibiting large mid breaks and these types are now starting to attract more significant discounts, especially in the finer microns. The prevalence of these wools was a driving factor in pushing the market indicators in some microns down.
Conversely, any lots with a mid-break of 20 or below are now attracting even greater premiums, as buyers attempt to average down their purchases. The skirting market had a mixed week. General gains of 10 to 20 cents on the first selling day, then seeing those gains completely eroded on the second to finish the sale generally unchanged. The crossbred sector experienced losses this week, 26.0 micron all the way to 32.0 micron generally fell by 5 to 20 cents.