ONLINE wool sales eased to a standstill with the downward movement of the physical auction market last week.
AuctionsPlus commercial operations officer Ed Murphy said with prices moving downward in all auction selling centres, the AWEX Eastern Market Indicator closed the week 27 cents lower at 2067c/kg clean with a national pass-in rate of 9.7 percent.
“Physical sales met all the demand this week and as a result this ease in buying was reflected online with no bales sold at all.”
Mr Murphy said some of the reluctance of buyers has been attributed to the limited amount of wool with a low vegetable matter content or high tensile strength on offer.
This seems to be a trend given the current seasonal conditions across most of Australia which, is also reflected in the consistently lower offerings per week in comparison to last year, he said.
“With a similar offering this week of around 35,000 bales, it is expected that there will be good competition seen but the trend of mixed quality will again bring differing results.”
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