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Bullish wool demand meets short supply online and at auction

by Sheep Central, 11 October 2017

A BULLISH wool market driven by keen demand was exposing short-term supply shortages despite earlier shearing across New South Wales, AuctionsPlus said this week.

 

AuctionsPlus market operations supervisor Tom Rookyard said the recent dry conditions in NSW had led shearing to be well in advance of last season.

He said meeting of short-term supply shortages with the bullish demand-driven wool market was reflected by the AWEX Eastern Market Indicator lifting 28 cents to 1550c/kg clean.

“The West Australian indicator had 27c and then 11 cents added to close off at 1608 cents.

“Over the past week, AuctionsPlus traded 966 bales, as buyers searching online to fill orders.”

He said 16 micron wool sold to 117 greasy or 2305c/kg clean and 17 micron fleece made 1400c/kg greasy, or 2102c/kg clean. The 18 micron fleece made to 1509c/kg greasy, or 1965c/kg clean, and 19 micron wool sold to 1324c/kg greasy or 1798c/kg clean.

The 20 micron fleece offered online sold to 1207c/kg greasy, or 1640c/kg clean, and 21 micron wool made to 1026c/kg greasy, or 1576c/kg clean.

The top online this week was a single bale line of 15.4 micron SUPAAA Merino fleece, with the low 0.5 percent vegetable matter content, that sold for 1730c/kg greasy, or 2433c/kg clean. The lot yielded 71.1pc, was 75mm long and had a tensile strength of 37 Newtons/kilotex. It was branded Woodsden and offered by Australian Wool Network.

Mr Rookyard said the AuctionsPlus combing skirtings category last week was topped by an eight-bale line of 17.7 Merino pieces which had 1.8pc vegetable matter. This lot was also offered by Australian Wool Network, branded Inglewood and sold for 1320c/kg greasy or 1944c/kg clean.

A six-bale line of 18.3 micron pieces sold to 1185c/kg greasy or 1785c/kg clean. A six-bale line of 20.5 micron Merino bellies wool sold for 440c/kg greasy, or 1122c/kg clean. An eight-bale line of 21 micron Merino bellies made 450c/kg greasy, or 1111c/kg clean.

“Looking forward, there is 40,000 bales to be offered nationally in the upcoming auction series.

“Online, once again AuctionsPlus has seen strong buyer engagement already this week with 116 bales being sold already,” he said.

“Reports are that the market will be firm, but may not see the gains that it did last week, nevertheless it should stay buoyant for the time being.”

Source: AuctionsPlus.

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