A LIFT in buyer interest increased the AuctionsPlus online wool auction clearance rate this week and more than doubled the number of bales sold on the platform’s offer board.
AuctionsPlus Wool project manager Tom Rookyard said Nutrien Ag Solutions offered 101 bales in 24 lots online on Thursday.
“The upturn in the market saw an 80 percent clearance rate with the usual buyers competing, along with 12 growers logging in to watch the sale.”
He said top-priced lot sold in the online auction was a line of 17.9 micron AAA Merino fleece with an average staple length of 71mm in length that made 975c/kg greasy or 1444c/kg clean. The top-priced oddments lot was a line of 17.4 micron Merino pieces that sold for 645c/kg greasy or 1250c/kg clean. A 17.5 micron Merino bellies line made 643c/kg greasy or 1289c/kg clean.
315 bales sold on AuctionsPlus offer board
Mr Rookyard said in the seven days to Thursday this week, 315 bales were sold on the AuctionsPlus wool offer board. The top-priced lot was a line of 13.7 micron Australian superfine fleece wool branded MR/Uralla offered by Jemalong Wool, which sold for 1460c/kg greasy or 2370c/kg clean.
He said 13 micron fleece made to 1460c/kg greasy or 2370c/kg clean, and 16 micron fleece sold up to 1250c/kg greasy or 1753c/kg clean. The 17 micron fleece sold made 1105c/kg greasy or 1510c/kg clean, and 18 micron fleece sold up to 1000c/kg greasy or 1437c/kg clean. The 19 micron fleece offered made to 1015c/kg greasy or 1359c/kg clean, and 20 micron fleece sold to 940c/kg greasy or 1272c/kg clean. A line 10 bales of crossbred fleece sold for 153c/kg greasy or 210c/kg clean.
Wool market uplift welcomed
Mr Rookyard said wool prices moved into positive territory in the open cry auctions with increased buyer interest, lifting the AWEX Eastern Market Indicator 9 cents to 11769c/kg clean.
“The improved buyer interest was reflected in the passed-in rate, which was 6.4 percent on Tuesday, and 11.6pc on Wednesday, compared to last week’s 18.4pc.
“Prices rose across the board, with 19.5 micron wool and finer recording price increases of 20-30 cents.”
He said the AWEX EMI has been trending downwards since May of 2019, long before the appearance of COVID-19.
“With global markets still in turmoil, predicting price movements will continue to be no more than a punt.
“It will likely be some time before we see any genuine stability in both the EMI and global markets.”
Jemalong Wool managing director Rowan Woods said with the effects of COVID-19 dominating the wool market, a small recovery this week was welcome.
“As a result of a small amount of new business written last week, and offering sizes that are sympathetic to the situation, the market had a dearer feel which translated into modest rises across the board.
“On top of this, a better selection gave the trade better value for money and some respite from the low-yielding drought-affected types which have been dominating recent offerings,” he said.
“Whilst ever the offering size can be matched to the current demand, this market has a chance of arresting the slide, as was evident this week.”