AUCTIONSPLUS sold about 400 bales of wool last week on its auction and offer board platforms.
AuctionsPlus Wool project manager Tom Rookyard said the Australian wool industry is feeling the full effect of the global COVID-19 pandemic.
He said the pandemic is wreaking havoc on the market as a high level of uncertainty and very little direction as to when life will return to normal causing low demand.
Last week the AWEX Eastern Market indicator lost 55 cents to fall to A1170c/kg clean or in US dollar terms, US753c/kg. The West Australian indicator lost 64 cents to close off at 1246c/kg.
“Growers appear to be resisting the falling market with an 18.4 percent pass-in rate this week,” Mr Rookyard said.
177 bales sold in online auctions
On Thursday last week, AuctionsPlus sold 177 bales in the Week 45 wool auctions held online. These were offered by brokers Nutrien and Roberts of Tasmania. Mr Rookyard said there was a 43pc clearance of the catalogue, with all the usual buyers participating. Another 21 brokers and growers logged in to view the sale.
Mr Rookyard said the sale was topped by a line of 17.2 micron Merino fleece offered by Roberts Wool. The lot was branded LOWICK and sold for 1156c/kg greasy.
Merino pieces were topped by a 15.9 micron lot also offered Roberts, branded L/ROC, that sold for 1084c/kg greasy. Merino weaners fleece made to 873c/kg greasy, for a 47mm long line branded DAL/A and offered by Nutrien Wool.
122 bales sold on offer board
On the AuctionsPlus Wool offer board, there was limited but steady buyer support from May 1-7, with 122 bales sold.
Mr Rookyard said the finer end of the market drew buyer interest.
Fleece wool of 14 microns sold to 1205c/kg greasy, or 1205c/kg clean, and a 16 micron line sold for 1023c/kg greasy, or 1719c/kg clean.
The top price sold online on the AuctionsPlus Wool offer board was a line of 15.6 micron SUP AAAA Merino fleece wool that made 1245c/kg greasy, or 2021c/kg clean. It was offered by Australian Wool Network and branded Coolong.
Mr Rookyard said an estimated 26,000 bales is to be offered at the physical auctions this week.
“While there is a high level uncertainty around the wool market currently, there are reports that some overseas mills are starting to see the current levels attractive to buy at, offering a small glimmer of hope.”