EARLY enquiry for online spot lines of wool indicate a somewhat positive signal for the market, Wooltrade market operations officer Tom Rookyard said.
But he said Wooltrade lines attracted minimal buyer enquiry last week as the Australian physical wool market fell again.
The AWEX EMI slipped a further 26 cents to settle at 1169 cents clean last week. This is the market’s lowest point since mid-April 2015, Mr Rookyard said.
“Additionally, the market has consistently continued to tumble since September 10, when it closed at 1260c.
“This represents a fall of 91 cents over five weeks or an average 18 cents a week.”
Mr Rookyard said a northern wool buyer had suggested that if the market could quickly fall in one hit to its bottom rather than continually slide week after week, it might offer exporters and growers more in terms of price stability around this season’s peak shearing time.
“With the wool market stressed and an ongoing high pass-in rate at the physical auction markets, Wooltrade.com.au saw minimal buyer enquiry (last week),” he said.
At the physical auctions this week more than 42,000 bales are on offer in the three selling centres.
“There are reports that a number of gaps in the auction catalogues are appearing, indicating growers are withdrawing in a reaction to the falling market.
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