With the AWEX Eastern Market Indicator dropping to 1320c/kg clean by the end of last week, Wooltrade market operations officer Tom Rookyard said the wool market downturn appears to be in full swing.
“Buyer activity has dampened as the July recess draws nearer.”
However, on a positive note, he said Wooltrade lots in the west did attract buyer interest online with 22 micron wools firming to 1348c/kg clean, and skirtings reasonably well-supported, with Merino pieces making up to 1305c/kg.
“Looking forward, the physical auctions have just under 48,000 bales up for auction this week and predictions of the around 50,000 bales for the first week of the new financial year.
“With such large numbers buyers and exports will be spoilt for choice, meaning a less competitive market can be expected,” Mr Rookyard said.
“This time is traditionally a very sensitive point for the wool market, as the end of the season can be somewhat unpredictable due to tax and financial reasons.
“The 2014/15 season looks set to be the biggest year of wool sold since the 2007/08 season.”
Mr Rookyard said the most current AWEX data reports that over 1,741,000 bales have been sold to date, with this season also having the highest percentage of bales sold to offered for the last 10 years at 92 percent.
Click here to see the Wooltrade top price summary for last week’s sale.