While the early sales of the one day auction (Wednesday) were solid, by the end of the day the market had retreated, with Fremantle, as the last to sell, most effected. This resulted in just 3,113 bales of the 4,508 offered in W.A. selling, with a pass-in rate of 30.9%
The pass-in rate of 23% nationally meant that of the bales offered, just 13,917 bales cleared to the trade. This was the lowest offering since June 2009. Season to date there have been 228,000 bales fewer sold, down on average 6,340 per selling week compared to last season.
The Eastern Market Indicator (EMI) lost 9 cents for the week to close at 1,292 cents. The Australian dollar was strong, lifting almost 3 cents to US$0.641, which pushed the EMI in US$ terms up 31 cents to 828 cents. The Western Market Indicator also eased losing 14 cents to close at 1,370 cents. Turnover this week was $19.67 million at $1,413 per bale, taking the year to date value to $1,728 million.
Melbourne finer Merino types all posted rises, however the EMI was dragged down by falls in the X Bred sections where falls of between 20 – 40 cents were observed. Cardings eased slightly except in Melbourne where a 30 cent fall gave back the improvement of last week.
Smallest offering since 2009
Next week
Next week all centres are selling on Tuesday & Wednesday with 31,517 bales on offer. A stronger US/Aus$ rate is not helpful, but exporters appear to have sufficient orders to cope with the reduced offerings.
Have any questions or comments?
Click on graph to expand
Click on graph to expand
Click on graph to expand
Data sources: Riemann, AWEX, Mecardo
Categories
Highest EMI for the season
AWEX report that the EMI improved by 7 cents this week and has now lifted for the past three weeks a total of 60 cents
Percentiles – June 2022
Mecardo’s Percentiles update for June 2022. Click below to view the latest report Grains Oilseeds Sheep and lambs Cattle Wool Dairy Fuel Percentiles are an important
Wool bale value by region
Wool (merino and crossbred) is produced across a wide array of geographic regions in Australia. This article takes a brief look at the (auction) sale
Wool’s share of value in the staple fibre markets
Anyone associated with the wool market will have heard the wool proportion of total fibres, somewhere in the 1-2% range, bandied about. At best this
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.