Australian Wool Market Stabilizes
After the tumultuous rise and fall of recent sales, the Australian Wool Market had a more subdued sale this week. The market opened with prices quickly finding a level similar to those achieved at the previous sale.
Generally, prices were trading within 5 to 10 cents of last Thursday’s quotes, with some types slightly dearer and others slightly easier. The only types to make any significant movements were 18.5 micron and finer lesser style wools, which were up to 20 cents easier. The benchmark Eastern Market Indicator lost a single cent to finish the first day at 1557 cents, although it did record a 13-cent lift when viewed in US dollar terms.
The second day was an almost carbon copy of the first. The market again sold at levels very close to those achieved on the previous day, apart from 18.5 micron and finer, with these types generally falling 20 cents further. The EMI again lost a solitary cent, closing the week at 1556 cents, an overall reduction of just 2 cents.
It must be noted, that the Fremantle market experienced larger falls than the East, generally 20 to 40 cents, with 18.5 and finer also most affected. The skirting market followed a similar path to the fleece. The finer lesser style wools and those carrying excessive vegetable matter recorded general losses of 10 to 20 cents. The broader, better style FNF wools increased in price by around 15 to 20 cents. The crossbred market also realized prices very close to those achieved the previous week, the exception was 26.0 micron – which was 15 cents dearer. The carding market received excellent support this week and reversed its recent trend of downward movement. Most types and descriptions appreciated by 5 to 10 cents.