ONLINE wool sales recommenced last week as the physical auction market continued on a downward trend.
AuctionsPlus Wool market operations supervisor Tom Rookyard said reports suggest the physical auction market may have found a base to work off.
Last week the benchmark AWEX Eastern Market Indicator lost 21 cents to settle at 1992c/kg clean — the first time the EMI has been below the 2000-cent mark since early August. The West Australian indicator lost 26 cents early in the week, but regained 17 cents to close at 2132c/kg.
“The market appears to have been helped by a weakening Australian dollar, which has fallen 13pc since January, down to as low as US70.44 cents — its lowest point in two and a half years.
“The stabilisation of the market flowed online with AuctionsPlus Wool selling 261 bales over the week,” Mr Rookyard said.
The top-priced fleece line on AuctionsPlus last week was a single bale of 15.4 micron AUSFINEXXX with a yield of 70.9 percent, an average staple length of 73mm, tensile strength of 38 Newtons/kilotex and 0.8pc vegetable matter content (vm). The wool came from Merinos mulesed with pain relief (PR) and sold for 2200c/kg greasy, or 3103c/kg clean. It was offered bb Elders Melbourne for the brand FT/Omeo.
A six-bale line of 18.9 micron AAAM (PR) sold for 1604c/kg greasy, or 2331c/kg clean. It yielded 68.8pc, was 100mm long, with a tensile strength of 22N/kt and 1pc vm.
A seven-bale line of 19.2 micron AAAM (PR) with a yield of 70.7pc, an average staple length of 109mm, tensile strength of 31N/kt and 1.4pc vm made 1644c/kg greasy, or 2325c/kg clean.
An eight-bale line of AAAM (PR) sold for 1547c/kg greasy, or 2229c/kg clean. The line yielded 74.1pc, was 93mm long, with a tensile strength of 37N/kt and 1.6pc vm.
A nine-bale line of 21.6pc AAAM (not declared) with a yield of 67.1pc, staple length average of 89mm, tensile strength of 31N/kt and 0.4pc vm made 1456c/kg greasy, or 2170c/kg clean.
The top priced Merino pieces lot was a 14-bale 20.7 micron line that sold for 1090c/kg greasy, or 2011c/kg clean. It yielded 54.2pc, was 82mm long, with a tensile strength of 21N/kt and 5.9pc vm. It was offered by Jemalong Wool and branded Culpaulin.
“Looking forward, there is an estimated 36,000 bales on offer across all three selling centres this week, with 37,000 to 38,000 rostered for the following two weeks.
“Reports from show floor suggest that we may have found the bottom of the current market, and that the week could see prices strengthen,” Mr Rookyard said.
“What’s more, with the estimated supply in the upcoming weeks, overseas mills may be encouraged to buy to ensure greasy wool stocks.
“These reports correspond with the 23 bales of 15-19 micron fleece wool AuctionsPlus Wool has sold as of early Tuesday morning.”
Source: AuctionsPlus Wool.