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Australian Wool Market Weekly Report (WK7)

From:Nanjing woolmarket       Date:2020-08-14 16:27:22       Share:

The Australian wool market experienced an unusual week, all merino fleece types and all crossbred fleece types recorded increases, however significant losses in the oddments and lesser losses in the skirting market, meant the market recorded a small overall loss. The national offering reduced to 30,272 bales, this was 12,492 bales less than was offered in the previous week. The smaller fleece offering attracted strong widespread competition, this stronger buyer sentiment helped to push prices higher. Across the country the individual fleece Micron Price Guides (MPGs) rose by 2 to 29 cents. Most sellers were keen to accept the higher prices on offer, the national passed in rate dropped to 8.2%, this was 21.8% lower than the 30.1% passed in rate of the previous week. The crossbreds also posted increases, the crossbred MPGs rose by 4 to 23 cents. The skirting market suffered small losses, all types and descriptions generally fell by 20 to 30 cents. As mentioned earlier, it was the dramatic losses in the carding sector that pushed the market down overall. Locks, stains and crutchings generally fell by 70 to 90 cents. On the back of these losses, the three merino carding indicators (MC) fell by an average of 72 cents. Due mainly to the large losses in the carding sector, the AWEX Eastern Market Indicator (EMI) fell by a marginal 2 cents, closing the week at 1,004 cents. Compared to the corresponding sale of the previous season, the EMI is 509 cents lower, a drop of 33.6%. The EMI is now at its lowest point since August 2014. Due to currency movement, when in viewed in USD terms, the fall in the EMI was slightly higher, the EMI lost 8 USc. Next week’s national offering increases slightly. Currently, there is 35,252 bales on offer nationally. Fremantle again only requires a one-day sale due to quantity, selling on Wednesday.