The fine end of the offering was the weak
link, with the Sydney market posting 40 to 50-cent retracements for 18 MPG
& finer. Melbourne was not far
behind those falls albeit slightly better. The 18 MPG has now lost 100 ȼ since
December.
Mid microns performed better, with the 20 MPG in Sydney quoted 14 cents better for the week, and the Melbourne auction showing a 4 to 9 cent gain across the 19 to 20 MPG range.
Crossbred types were mixed, the stronger 30
to 32 MPG lots lifted, bringing them back to levels last seen in
October/November last year. It was not so good for finer crossbreds, with the
26 MPG easing 17ȼ.
Cardings held firm to slightly better in all
centres across the week. Initially, 42,758 bales were rostered, with 40,472 finally offered and with a 9.5% pass-in rate, 36,617 were sold. The average weekly bales sold for the season is currently 39K bales.
This week on Mecardo, Andrew Woods investigated crossbred wool prices in other Crossbred wool-producing countries (read
here). In Australia, Crossbred wool now accounts for around 22% of the
national wool clip (based on clean volumes sold at auction). It is worth
following prices in other countries to watch for market signals that will
translate to Australian prices.
Another week another slide
Next week
Next week’s offering will increase, with 44,049 currently rostered.
All three centres are selling Tuesday and Wednesday with Melbourne having an additional Thursday sale.
Have any questions or comments?
Click on graph to expand
Click on graph to expand
Click on graph to expand
Data sources: AWEX,AWI, Mecardo
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