Markets

Wool market heading into unfavourable dollar territory

Sheep Central, March 8, 2016

Wooltrade logoAUSTRALIA’S wool market is heading into unfavourable exchange rate territory this week but auction offerings could play a role, according to Wooltrade operations supervisor Tom Rookyard.

Facing an opening $A-US exchange rate of around US74 cents, the wool market is looking at a negative outcome, he said.

“However, supply could play an important role in this week’s market.

“Nationally 44,000 bales are on offer across all three selling centres,” Mr Rookyard said.

“However, only approximately 350 lots of fleece on Wednesday at Sydney are available and just 250 lots on Thursday.

“This may prove to become a positive note in the final week’s outcome.”

Mr Rookyard said the AWEX Easter Market Indicator last week closed at 1258c/kg clean, its lowest point since early December.

Online last week, the top priced Wooltrade lot was a five-bale line of 15.4 micron superfine fleece line that yielded 69.8 per cent with a mean staple length of 64mm, a tensile strength of 39 Newtons/kilotex and 0.7 percent vegetable matter content. It sold for 1483c/kg clean, or 1035c/kg greasy, and was offered by Landmark Melbourne under the brand ENJ/Coliban Estate.

A two bale line of 17.5 micron fleece sold for 1323c/kg clean or 950c/kg greasy. It had a yield of 71.8pc, an average staple length of 60mm, tensile strength of 46N/kt and 1.2pc vm.

A nine-bale line of 20.2 micron fleece sold for 1367c/kg clean or 891c/kg greasy. It yielded 65.2pc, was 95mm long with a tensile strength of 28N/kt and 1.1pc vm.

A 10-bale line of 21.4 micron fleece yieldeding 62.9pc and 102mm long made 1367c/kg clean or 860c/kg greasy. It had a tensile strength of 25N/kt and 1.8pc vm.

A 17-bale line of 22.2 micron wool sold for 1326c/kg or 985c/kg greasy. The line yielded 74.3pc, with an average staple length of 105mm, a tensile strength of 17N/kt and 0.6pc vm.

Mr Rookyard said skirtings and combing bellies continued to draw buyer interest on Wooltrade last week, with a three-bale line of 19.5 micron merino bellies making 1229c/kg clean or 569c/kg greasy. The Larundel clip line offered by Elders Melbourne had a staple length of 70mm, a yield of 46.3pc, tensile strength of 17N/kt and 3.6pc vm.

A short four-bale 16.6µ micron Merino carding lambs line from Roberts Tasmania made 1295c/kg clean or 930c/kg greasy.

Click here to read last week’s Wooltrade Top Prices Summary E36-15

Source: Wooltrade.

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