The Eastern Market Indicator gave up 9¢ to finish at 1291¢. A similar result was posted in US dollar terms with the Aussie dollar up 1 cent to US$0.771, dropping the EMI 6 US¢, to finish at 996¢.
At Fremantle sales, the WMI fell 18 cents for the week settling at 1318.
The strength of the market again came from the finer types with all MPG’s 18 and finer rising, as well as the 18.5 MPG in Melbourne, while all broader types were lower. The finer the micron the larger the rise this week. As an example, the 17 MPG was 56 cents dearer in Melbourne & up 30 cents in Sydney, while the 22 MPG was down 30 & 57 cents respectively.
The Crossbred offering met with resistance for less well-prepared lines, on Thursday in Melbourne this lifted the Crossbred pass-in rate to 27%.
Cardings again were relatively stable although AWEX reported Fremantle cardings lifted 13 cents.
An increased offering of 46,256 bales came forward this week, and with a national pass-in rate of 14.2%, 39,706 bales were sold this week. 531,238 bales have been sold in the first 13 selling weeks of 2021, averaging just over 40K each week. This time last year, 416,532 bales had been sold by the 13th selling week.
Average bales sold per week for the season to date is at 33,030, up nearly 6000 more than the weekly average for the 2019/20 season.
This week on Mecardo, Andrew Woods took a look at wool stock levels held by farmers. The stock held today has little relationship to the level of stock overhang of the 1990s and its depressing effect on the merino market for the best part of a decade. There are some significant differences this time around, including strong cashflows from livestock, low wool production (compared to record wool production in 1990) plus wool stock levels are nowhere as high as they were in the 1990s in either absolute or proportional terms. This article shows that stock flows back into the market will be restrained for the time being as price levels are not attractive in relation to passed in values for many categories.
Market resumes to mixed result
The Eastern Market Indicator gave up 9¢ to finish at 1291¢. A similar result was posted in US dollar terms with the Aussie dollar up 1 cent to US$0.771, dropping the EMI 6 US¢, to finish at 996¢.
At Fremantle sales, the WMI fell 18 cents for the week settling at 1318.
The strength of the market again came from the finer types with all MPG’s 18 and finer rising, as well as the 18.5 MPG in Melbourne, while all broader types were lower. The finer the micron the larger the rise this week. As an example, the 17 MPG was 56 cents dearer in Melbourne & up 30 cents in Sydney, while the 22 MPG was down 30 & 57 cents respectively.
The Crossbred offering met with resistance for less well-prepared lines, on Thursday in Melbourne this lifted the Crossbred pass-in rate to 27%.
Cardings again were relatively stable although AWEX reported Fremantle cardings lifted 13 cents.
An increased offering of 46,256 bales came forward this week, and with a national pass-in rate of 14.2%, 39,706 bales were sold this week. 531,238 bales have been sold in the first 13 selling weeks of 2021, averaging just over 40K each week. This time last year, 416,532 bales had been sold by the 13th selling week.
Average bales sold per week for the season to date is at 33,030, up nearly 6000 more than the weekly average for the 2019/20 season.
This week on Mecardo, Andrew Woods took a look at wool stock levels held by farmers. The stock held today has little relationship to the level of stock overhang of the 1990s and its depressing effect on the merino market for the best part of a decade. There are some significant differences this time around, including strong cashflows from livestock, low wool production (compared to record wool production in 1990) plus wool stock levels are nowhere as high as they were in the 1990s in either absolute or proportional terms. This article shows that stock flows back into the market will be restrained for the time being as price levels are not attractive in relation to passed in values for many categories.
The week ahead….
Next week there is another reasonably large offering, with 45,544 bales on offer across the three principal selling centres. 24,238 bales are listed for Melbourne, 10,241 for Sydney and 11,065 for Fremantle. There are no sales Thursday this week, only Tuesday and Wednesday.
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
Categories
Have any questions or comments?
Minimal price movements
The wool market opened to a weaker tone as a stronger Au$ pressured buyers, although AWEX noted that Ceased Mulsed (CM)/ Non-Mulsed (NM) wool at
21 micron price and volume
Following from the article earlier this week, this article zeroes in on the 21 micron category with regards to gross sales value, price and volume
Wool sales volumes rebounding strongly
Wool prices are well reported with the Australian Wool Exchange (AWEX) providing great transparency for the greasy wool market, unlike our close cousins across the
Wools run comes to an end
After 3 consecutive weeks of price increases the wool market retraced this week, with all types and all centres impacted. After lifting by 30¢ last
Don’t have an account with us? Join free.
You can have full premium access to all of our content with a monthly or annual subscription.
Alternatively, create a free account to access our Insights blog and two free premium article a month!
Independent analysis and outlook for wool, livestock and grain markets delivered to you as it’s published
Listen to the podcast
Join the Mecardo team for the Commodity Conversations podcast, where we provide short weekly market recaps and longer conversations with guests to discuss the drivers and trends in livestock, grain and fibre markets.
Research: Analysis of the Australian sheep flock
In this report for LiveCorp and MLA, we analysed the historical trends in the demographics of the Australian sheep flock, examining domestic factors that influence farm-level enterprise decision making.
SERVICES AND CAPABILITIES STATEMENT BROCHURE
We don’t just bring you the most up to date market insights. Find out more about Mecardo’s services including risk management advisory, modelling, benchmarking, research & consultancy.