ONLINE wool sales increased last week as overseas supply demands coupled with grower defiance at lower prices also led to an upward swing in physical auction rates.
ONLINE wool sales have dried up as fewer lines are passed in at Australia’s booming physical sale-by-sample auctions.
AUCTIONSPLUS had restricted but consistent online enquiry for wool last week and market operations supervisor Tom Rookyard said with the physical wool market holding mostly firm, finer types attracted buyer interest.
WOOL industry attitudes to change need to be addressed collaboratively for the proposed Wool Exchange Portal to succeed, according to the operator of Australia’s only online wool marketing platforms.
AUCTIONSPLUS Wool cleared 70 percent of a 3638-bale offering in its annual recess sale week. AuctionsPlus Wool market operations officer Tom Rookyard said 11 national buyers competed actively on the 665 lots offered across 120 grower clips.
A strategic restructure of Australia’s online wool trading platforms has led to the redundancy of Wooltrade and AuctionsPlus Wool market operations manager Tony Benson and financial controller Debbie Dickson.
Ultrafine wool sold for more than 1900 c/kg clean on Wooltrade last week. Wooltrade market operations manager Tony Benson said the wool market showed some solid resilience last week to any downside, but still posted some minor price corrections in some of the Merino fleece categories.
Wooltrade’s top price last week was 1311c/kg clean for a bale of 15.8 micron Merino fleece wool that had 0.5 percent vegetable matter content, a yield of 76.3pc, staple length of 88mm and tensile strength of 32 Newtons/kilotex. The lot was offered by Jemalong Wool at Forbes, NSW.
Australia’s wool market offered short-term opportunities for woolgrowers able to keep their clip sound with low mid-point breaks, AuctionsPlus Wool market operations manager Tony Benson said.
“The market is actually ahead for this year by 26 cents and I see plenty of opportunity going forward for wool in the short term particularly for woolgrowers who have managed to keep a low mid-break and a reasonable tensile strength of about 35 Newtons/kilotex.
Recent sales of 22 micron wool on the offer-board Wooltrade indicate good ongoing demand for broad Merino fleece, according to AuctionsPlus market operations manager Tony Benson. More than 1000 bales of wool were sold on Wooltrade last week as the physical wool market recorded some handsome price increases, Mr Benson said.