AUSTRALIAN wool grower reluctance to sell clips at lower auction prices also curtailed online sales last week.
More than a third of the wool offered at AWEX-reported auctions last week was being marketed more than 180 days after being tested, including many clips being sold to avoid the 2017-18 financial year.
AuctionsPlus Wool market operations officer Ed Murphy said the auction wool market continued to slide last week.
“Reports from the physical auctions is that the wool on offer is lesser in style and strength and carrying vegetable matter.
“Subsequently, the first week of the new season saw significant losses across all types and descriptions,” he said.
Mr Murphy said this resulted in the AWEX Easter Market Indicator falling 62 cents to close at 1994c/kg clean last week.
“With the larger offering this week, the pass-in rate increased to 15.6 percent on the back of reported reluctance to sell at the lower levels and sellers’ willingness to hold.
“This sentiment was reflected online as there were no sales on AuctionsPlus Wool.”
A slightly lower offering of about 41,500 bales is expected to be offered at auctions this week, the last week before the annual mid-year three-week recess. A similar price trend to last week is expected, Mr Murphy said.
Source: AuctionsPlus Wool.
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