Little lots lead to bigger wins

Sheep in paddock photo by Jessa Bottrill

All the wool market action took place in the east this week, with no sales taking place in Fremantle. The small 2 day sale with very few lots on offer saw the market stronger from start to finish.

The offering declined by almost 5,000 bales week on week to just 26,897 bales in total. Buyers continued to focus on well measured lots with higher yields. All MPGs finished the week in positive territory pushing the Eastern Market Indicator up 15 cents to 1,152 c/kg clean. This is down just 5% year on year. The AUD also ended this week slightly higher, pushing the EMI in USD terms up 11¢ over the week to 767¢.

Merino skirtings, crossbred and oddment sectors had positive gains. The only types of not improve on last week was 26MPG in Sydney which held steady. The largest week on week gains were made in medium fibres in Sydney, with 19.5 and 20MPG picking up an extra 30 to 37¢.

In Melbourne competition for lots with favourable additional measurements remained strong. Superfine 16.5MPG gained an additional 29¢ over the week to 1818¢/kg and 17-18MPG all gained 20 to 25¢. Medium fibres in Melbourne didn’t face a strong a market as Sydney, however 19.5 to 20MPG still improved 2 to 12¢. Merino cardings demand was “in and out” in Sydney and Melbourne but overall gained 4 and 5¢ respectively on the week.

Sellers were keen to let go of their wool in the stronger market. The pass in rate for the week dropped slightly to 5% which saw 25,554 bales sold. This was a new low for the current season.

The week ahead….

All three centres will be back up and operational next week with sales on Wednesday and Thursday due to the Kings Birthday holiday on Monday.  A much larger offering of 33,814 bales is currently registered, however this is within the normal range for this point in the season.

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Data sources: Nutrien Ag Solutions, Mecardo

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