Australian Wool Market Rebounds to Near Record Level
The Australian Wool Market performed steadily for the second consecutive week. General price increases of between 20 and 50 Australian cents were enjoyed across the entire merino spectrum.
The Benchmark Eastern Market Indicator rose by 8 cents, to close at 1820 Australian cents – only 1 cent below the record level achieved in January. Due to currency movements, the EMI lost 17 cents in USD terms – a reverse of what was seen in the previous sale.
As the year progresses, so too does the amount of vegetable matter present in wools across the country. In particular in the Eastern States, where FNF wools (less than 1.0 percent vegetable matter) currently make up just more than half of the fleece offering. The continual decline of these wools is increasing the premium that buyers are prepared to pay, resulting in larger price rises in these types when compared to similar wools carrying more fault.
The skirting market went against the trend of the fleece. Losses were felt across all microns, generally between 20 and 30 cents, with wools with less than 2 percent least affected. The crossbred sector has managed record rises for the third consecutive week. Gains were posted across the entire range, generally between 5 and 20 Australian cents. Main buyer interest was focused on better prepared lines, and as a result these wools enjoyed the greatest lift in price.
The oddments were discounted this sale. Wools carrying more than 3 percent vegetable matter were the hardest hit as buyers favored the lower vegetable matter types.