ONLINE wool-buying activity rose marginally last week, as strong European and Chinese top maker demand boosted AWEX auction sales.
AuctionsPlus technical operations officer Matt Cotton said the online platform sold 65 bales of wool last week, more than double the 28 bales cleared the previous week.
“To the shock of many observers, wool prices rose across the board in last week’s auctions.
“With the full extent and damages of the coronavirus on global economies yet to be quantified, many predicted uncertainty to plague auction results,” Mr Cotton said.
“Australian Wool Innovation reported that strong European interest, as well as large volume buying from a Chinese top maker helped boost the market.
“Consequently, the AWEX Eastern Market Indicator finished the week up 1.9 percent or 29 cents, to total 1557c/kg clean,” he said.
In $US terms, the EMI rose 2.1pc or 23 cents to close at US1066c/kg. Mr Cotton said AWEX Micron Price Guide for 17 micron wool sold in Melbourne rose a 74 cents to close at 2078c/kg.
The top-priced lot online was a five-bale line of 17.3 micron AAAM Merino fleece wool branded B/H In A Box that made 1590c/kg greasy, or 2078c/kg clean. It was offered by Elders Melbourne and had a average staple length of 73mm, a yield of 76.5pc, a tensile strength 38 Newtons/kilotex and a vegetable matter content of 0.2pc.
A three-bale line of 16.8 micron SUPAAAA fleece wool with a yield of 68.3pc, staple length of 95mm, tensile strength of 35N/kt and 0.5pc vm sold for 1410c/kg greasy, or 2064c/kg clean.
A nine-bale line of 18.1 micron AAAM made 1`460c/kg greasy, or 1962c/kg clean. It yielded 74.4pc, with a staple length of 99mm, tensile strength of 44N/kt and 0.5pc vm.
A three-bale line of 19.5 micron AAAM with a yield of 77.8pc, staple length of 105mm, tensile strength of 28N/kt and 0.1pc vm made 1330c/kg greasy, or 1710c/kg clean.
A two-bale line of 20.8 micron AAAM sold for 1204c/kg greasy, or 1661c/kg clean. It yielded 72.5pc with a staple length of 86mm, tensile strength of 14N/kt and 0.6pc vm.
A 12-bale line of 21.5 micron AAM fleece wool with a yield of 50.8pc, staple length of 60mm, tensile strength of 66N/kt and 3.7pc vm made 821c/kg greasy, or 1616c/kg clean.
Mr Cotton said earlier in the week, the $A weakened against the $US due to fears of the Asian region coming under economic pressure.
“This helped to initially boost buying activity.
“The European top maker forced prices higher for the better wool types, with confident buying resulting in higher limits,” he said.
“Once again, high withdraw and passed in rates suggest many growers are still not happy with current prices, and are willing to wait until such time as the price appreciates.
“Some growers would be expecting a supply strain to boost the price in the future, and may be holding off for this,” he said.