AUCTIONSPLUS wool sales slipped back with a fall in auction prices last week, although online demand increased after AWEX auctions ceased and there are reports of increased Chinese demand.
AuctionsPlus operation manager Tom Rookyard said there are an estimated 40,000 bales to be offered across the country this week.
“There is a buzz of positivity around the market this with several reports that there has been business done with overseas mills, particularly Chinese mills.
“This has been backed up by the fact that 133 bales have been sold on AuctionsPlus Wool between Monday morning and Tuesday morning,” he said.
Mr Rookyard said after two weeks of positive gains the wool market slipped backwards last week, with minimal business conducted with overseas mills.
“This was reflected by the AWEX Eastern Market Indicator losing 24 cents on Wednesday and a further 15 cents on Thursday, to close off at 1555c/kg clean, or in US dollar terms US1068 cents.
“The West Australian indicator lost 25 cents to close off at 1662 cents,” he said.
“Growers and brokers appeared to choose to pass-in or withdraw their wool, with the physical auctions seeing an average pass-in rate of 17.5pc across the week.”
Mr Rookyard said September and October have been particularly tumultuous for growers, buyers and brokers.
“After a 61-cent rise on the 25th of September, the market fell 98 cents on the 2nd and 3rd of October.
“Online there were 46 bales sold; however, it is worth noting that 36 of them were on Friday afternoon.”
The top priced lot online was a line of 16.1 micron AAA Merino fleece wool with a low 1.3pc vegetable matter content. This lot was branded Irbybrae, offered by Elders Fremantle and sold for 1227c/kg greasy or 1905c/kg clean.
The 17 micron fleece wool sold online made up to 1164c/kg greasy or 1871c/kg clean.
Merino pieces were topped by a 15.8 micron line. This was offered by Jemalong Wool, branded GM Thorpe Auburn/Delungra and sold for 1300c/kg greasy or 1909c/kg clean. Some 16 and 17 micron pieces lines sold to 1150c/kg and 1110c/kg greasy or 1849c/kg and 1737c/kg clean.