News

Wool prices finish week on positive note

Terry Sim, August 8, 2014

Wool_samplesWool prices continued to firm in sales across Australia on Thursday.

Despite the biggest Merino offering in Melbourne in three months – 16,136 bales – and 38,841 bales nationally, the AWEX Eastern Market Indicator gained two cents to A1031c/kg with a pass-in rate of 5.7 percent.

Elders wool manager and senior auctioneer Elliot Lindley said prices strengthened as the sale progressed in Melbourne.

Mr Lindley said it was too early to draw too many conclusions after just one week of sales, though it gave the industry some optimism.

“Certainly we saw a very buoyant with the fines and superfines tending dearer right throughout the week.

“They got stronger as the day went on,” he said.

“There was good competition from all sectors – China and Europe.”

Mr Lindley said there was very little raw wool stock around the world.

“I think next week should be quite buoyant again.”

Best style, good tensile wools in demand in Melbourne

In Melbourne, AWEX said best style good tensile strength – 40 Newtons/kilotex – wools were in the most demand. These lifted 20-30 cents in the 17.5-18 micron category. Most Merino wool out to 23 microns was well supported and the 19.5 and broader micron lines finished in sellers’ favour, AWEX said. Prices for Merino skirtings of 3pc VM, crossbred wool and oddments were firm.

Medium wool Merino clips also sell well in Sydney

In Sydney, AWEX said the 16,103 bales of wool did not deter the market concluding in positive territory. Best style and 40N/kt-plus types lifted in the 17-18 micron range, with medium wools also selling in sellers’ favour and 20-micron plus lines closing unchanged. Merino skirtings at or under 19 microns with less than 5pc VM lifted 5-10c/kg and burrier lots were firm, AWEX said.

However, crossbred wools in the north lost ground, with 26-30 micron wool easing 3-5c/kg. AWEX said washing locks were 5c/kg cheaper, while carbonising types sold in buyers’ favour. Stains and crutchings were firm.

Finer Merino types up 5-10c/kg in Fremantle

In Fremantle, just 6602 bales were offered with finer types closing 5-10c/kg dearer and fine-medium lines up 10c/kg, AWEX said. Medium-broader wools finished firm. Lower VM lines – under two percent – were 5-10c/kg dearer, lots of 5pc VM were slightly dearer. Carbonising locks eased 5-10c/kg and crutchings were firm, AWEX said.

SOURCE: AWEX

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