Markets

Online wool sales continued during physical market recess

Sheep Central, August 9, 2016

Wooltrade logoONLINE wool sales have continued during the recent physical market recess, with the AuctionsPlus Recess Wool Sale last Thursday clearing 62 percent of the 977 bales offered.

The successful online wool sale was held as only 13 bales were traded on Wooltrade last week, following on from the sale of 729 bales in the preceding two weeks.

Mr Rookyard said wool in the recess sale was drawn from the north, south and west.

“A potentially weakening Australian dollar combined with an estimated 56,000 bales being offered nationally at the physical auctions loomed as a possible negative for the online auction.

“However, in the eastern states sale, over 91pc of the catalogue received a bid, with a 62pc clearance.”

Online 18.4 micron fleece sold for 975c/kg greasy or 1491c/kg clean. In the oddments, 18.7 micron locks sold up to 651c/kg greasy and Merino pieces sold up to 813c/kg greasy.

Mr Rookyard said a number of buyers noted that the market was 10-15c/kg cheaper for crossbred wools, continuing their recent downward trends.

“Merino types sold similar to where the market closed before the recess, holding generally firm,” he said.

“Looking forward it will be interesting to see where the auction market opens, with a large volume on offer in the first two weeks.

“This can be attributed to many sheds catching up on shearing which was held up due to rain across the eastern states and the strong close in prices,” Mr Rookyard said.

“The volume on offer may test demand.

“There has been a downward trend for the Australian to US dollar exchange which will no doubt benefit prices.”

Click here to see the latest Wooltrade Top Prices Summary.

Source: Wooltrade.

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Your email address will not be published.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Contributions that contravene our Comments Policy will not be published.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!