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Australian Wool Market Weekly Report (WK1)

From:Nanjing woolmarket       Date:2020-07-06 10:27:39       Share:

This week marked the beginning of the new 2020/21 wool selling season. In welcome news to all industry participants, the market started the new season on a positive note. Strong buyer sentiment helped to push merino fleece prices higher. The individual Micron Price Guides (MPGs) across the country rose by 3 to 27 cents. The only exceptions were the 16.5 and 17.0 micron MPGs in the North, which lost 6 cents and the 20.0 and 21.0 micron MPGs in the South which recorded no change. The AWEX Eastern Market Indicator (EMI) gained 6 cents for the series, to close the first selling week at 1,116 cents. Due to currency movement the rise in the EMI in US dollar terms was only 2 cents. Many sellers take this opportunity to sell in the new financial year and most sellers in this sale were keen to accept the prices on offer. This was reflected in the national passed in rate, which was only 5.1%, this was well below the yearly average of the previous season of 17.0%, which was the highest figure since AWEX records began. Worth noting, the national fleece passed in rate was just over 2%. The skirting market followed a similar path to the fleece, prices generally increased by 20 to 30 cents, wool carrying less than 3.0% vegetable matter most affected. The cardings were the only sector to record overall losses for the series. General losses in locks, stains and crutchings of 10 to 20 cents, pushed the three carding indicators down by an average of 14 cents. Next week is the final sale before the annual three-week July recess. Sales revert to Tuesday/Wednesday selling, there is currently 36,712 bales available to the trade. Due to the small quantity on offer, Fremantle only requires a one-day sale, selling Wednesday. Melbourne and Sydney are in operation over both days.