ONLINE wool sales continued last week despite as several AuctionsPlus sellers met the market with their bale price reserves.
AuctionsPlus technical operations officer Matt Cotton said 177 bales from 20 different grower brands found buyers last week, as the Australia’s physical auction wool market regained a level of normality last week, in contrast to previous weeks’ dramatic rises and falls.
“More successful trade talks between China and the United States may have helped usher in this stability, which will help keep demand for Australian wool strong.
“A lack of supply due to adverse seasonal conditions was the main driver of price fluctuations for the week,” he said.
Initially, the AWEX Easter Market indicator dropped on Wednesday, then rose back up on Thursday to finish the week at 1517c/kg clean, down 26 cents on last week. In US dollar terms, this equated to 1029c/kg, he said. Brokers offered 35,356 bales and 14.6 percent were passed in.
The top-priced lot sold online this week was a line of 14 micron XXX superfine Merino fleece wool that made 1486c/kg greasy, or 2248c/kg clean. The line had an average staple length of 68mm and had 0.7 percent vegetable matter content. The lot was branded SGW/Bundamar and was offered by Arcadian Wool.
On AuctionsPlus, 16 and 17 micron fleece wool sold to a top of 1430c/kg and 1156c/kg greasy or 2020c/kg and 1744c/kg clean. The 18 and 19 micron fleece wool sold to 1185c/kg and 1230c/kg greasy or 1700c/kg and 1725c/kg clean. The 20 and 22 micron fleece wool sold to a top of 1205c/kg and 1145c/kg greasy or 1662c/kg and 1679c/kg clean.
Mr Cototn said a line of 24 micron crossbred skirtings micron sold for 365c/kg greasy or 773c/kg clean.
“With 33,000 bales being offered this week, and only one sale day for Sydney, supply should continue to be lower than forecasted.
“Retail sale reports from China are showing a very slight increase in sales, and many are hoping for positive sales figures out of Europe off the back of Brexit trade agreement,” he said.
“Coupled with ‘warmer’ trade talks between the US and China, some are predicting positivity this week.
“However, the recent volatility of the EMI will no doubt mean buyers and sellers will continue to tread carefully until a clear trend is identified.”
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