AUCTIONSPLUS WOOL sold almost 500 bales of wool last week as prices stabilised in the auction market, despite the global COVID-19 pandemic.
AuctionsPlus Wool project manager Tom Rookyard said no doubt the postponement of South African and New Zealand auction sales helped support the Australian market.
He said this was reflected in the AWEX Eastern Market Indicator losing 5 cents on Tuesday before gaining 7 cents on Wednesday and 2 cents on Thursday, to close off at 1442c/kg clean. The Western Australian indicator lost 26 cents to close at 1512c/kg clean.
“Potential industry shutdowns would have overseas mills looking to shore up supplies in the short-term; however, longer term the industry may not have nearly the same support from mills.”
AuctionsPlus Wool received consistent buyer enquiry last week and sold 477 bales. The top price lot sold online last week was a five-bale line of 17.6 micron Merino fleece from non-mulesed sheep that made 1225c/kg greasy, or 1723c/kg clean. The line had a yield of 71.1 percent, with an average staple length of 91mm, a tensile strength of 24 Newtons/kilotex and a vegetable matter content of 0.8pc. The lot was branded JI/Tombong and was offered by Jemalong Wool.
Last week, a two-bale line of 16.5 micron fleece wool with a yield of 64pc, staple length of 92mm, tensile strength of 20N/kt and 0.6pc vm sold for 1020c/kg greasy, or 1594c/kg clean.
A five-bale line of 18.1 micron Merino fleece sold for 1230c/kg greasy, or 1687c/kg clean. The line yielded 72.9pc, was 80mm long, with a tensile strength of 23N/kt and 0.2pc vm.
A 12-bale line of 19.9 micron fleece with a yield of 74.7pc, a staple length of 98mm, a tensile strength of 40N/kt and 0.4pc vm made 1160c/kg greasy, or 1553c/kg clean.
A seven-bale line of 20 micron AAM sold for 1140c/kg greasy, or 1543c/kg clean. It yielded 73.9pc, with a staple length of 98 mm, tensile strength of 35N/kt and 0.3pc vm made 1140c/kg greasy, or 1543c/kg clean.
Mr Rookyard said there are an estimated 39,000 bales on offer across the nation this week.
“Clearly, as the only national with any volume of wool to transact, Australia is in the focal seat.
“However, COVID-19 has all industries unsure of what will happen next, global economies are taking a battering, and government restrictions and lockdowns are in place as nations struggle to content with the virus,” he said.
“With more and more companies shutting their doors, there is total uncertainty of where the market will head.”