The fall in the physical market flowed into online demand, with Wooltrade.com.au recording its smallest week of volume traded since mid-August, Wooltrade market operations officer Tom Rookyard said.
With 21 bales sold for the week, the top-priced lot was a five-bale line of 15.1 micron superfine weaners’ fleece wool that made 1727c/kg clean or 1200c/kg greasy.
The superfine line yielded 69.5 percent, with a mean staple length of 75mm, tensile strength of 44 Newtons/kilotex and 0.7pc vegetable matter content. The lot was branded Netley/DB and offered by Australian Wool Network in Sydney.
Mr Rookyard said the physical wool market continued its retreat last week, with the AWEX Eastern Market Indicator falling 26 cents to 1234 cents. The fall represented lost ground, but might also be seen as a levelling out of the EMI, with 19 cents lost on Wednesday and only a further 7 cents lost on Thursday, he said.
Mr Rookyard said the broader microns and crossbred types showed resistance to the price pressure at the physical sales, with some exporters reporting a stronger market by the close on Thursday.
“The market is sitting on similar levels to when it closed for the winter wool recess.”
The EMI is now 211 cents stronger than it was at this point last season, when it was sitting at 1023 cents, Mr Rookyard said.
“Over the past few months the spikes in the market have begun to rise and fall less drastically, hopefully signalling some stability is coming into play for growers, brokers and buyers alike.
“Looking forward, with all three physical selling centres offering this week, the market will once again be tested by volume,” he said.
“There was no strong buying reports from the Nanjing conference last week in China, signalling a possible drop in prices.”
Click here for last week’s Wooltrade Top Prices Report.