Markets

Fine Merino wool prices lift almost 30 cents at auction

Sheep Central, January 22, 2016

wool bales dec15-14FINE Merino wool prices lifted by more than 20c/kg at auction sales this week, especially in Sydney and Melbourne sales.

AWEX senior market analyst Lionel Plunkett said the best performers for the week were Merino fleece, particularly well specified 18.5 micron and finer, recording increases well over 20 cents.

The AWEX Eastern Market Indicator rose 14 cents to 1296c/kg clean, with the Australian dollar at US69.05 cents, and the EMI in US terms at 895c/kg, up 5 cents.

Brokers passed in 3.7 percent of the offering of 59,775 bales, 6149 bales more than last week, and the largest weekly (and fortnightly) national offering since November 2010.

Mr Plunkett said sales over December and January typically contain increased volumes of crossbred wool and this week a relatively large crossbred offering of 16,219 bales accounted for 26.9pc of the weekly offering. Equally prominent was a significant Merino offering of 43,064 bales, he said.

“The week opened on Tuesday in the Melbourne centre only.

“Results were mixed with fine Merino fleece and 28 micron crossbreds trading sellers’ favour and cardings 10-20 cents/kg dearer.

“Other sectors tended buyers’ favour especially lower spec lines,” he said.

“With all three centres operating on Wednesday the market signals were clearer with most sectors selling in sellers’ favour.

“The Fremantle centre reported the strongest gains for the day.”

Mr Plunkett said the sale opened strongly on Thursday with Merino fleece recording 10-15 cent increases.

“Merino skirtings received good support all week closing fully firm to sellers’ favour.

“Merino cardings increased on the first day in each centre and stabilised.”

Mr Plunkett said crossbred wools under 30 micron rose slightly during the week, contrasting with 30 micron and broader which were generally unchanged.

Wool sales next week will be held in all centres on Wednesday and Thursday due to a national public holiday on Australia Day, January 26.

Click here for this week’s AWEX Micron Price Guides

Source: AWEX.

HAVE YOUR SAY

Your email address will not be published.

Your comment will not appear until it has been moderated.
Contributions that contravene our Comments Policy will not be published.

Comments

Get Sheep Central's news headlines emailed to you -
FREE!