Markets

Wooltrade has biggest week in six months as wool market strengthens

Sheep Central, May 10, 2016

Wooltrade logoWOOLTRADE last week sold its largest volume in six months as the wool market strengthened.

Wooltrade market operations supervisor Tom Rookyard said 1534 bales of wool were sold online as the Australian dollar weakened against the US dollar and auction supplies dwindled.

Strong online buyer activity led to Wooltrade selling its largest volume of wool since October 2016.

Mr Rookyard said over the past month, since the Easter recess for the AWEX wool auctions, the market has been volatile, gaining and losing 50 cents on AWEX’s Eastern Market Indicator.

“During the week of the IWTO conference the market hit 1270 cents and then spent the following weeks slipping back to 1217 cents.

“The market then strengthened, on the back of a weakening Australian Dollar and dwindling supplies, he said.

Last week the EMI closed at 1268 c/kg clean, a 27 cent gain over the most previous week.

Mr Rookyard said Australia’s wool market is now at an interesting point.

“One northern buyer commented that the movement of the exchange rate of the Australian dollar is dictating the market and suggested that if I can tell him what the exchange rate will be this week, he can tell me what the market would be like.

“Early reports indicate that the market will again open firm to dearer,” Mr Rookyard said.

“Online the week has commenced with steady buyer enquiry on Wooltrade supplies.”

Wooltrade’s top price of 1300c/kg greasy for ultrafine bale

Mr Rookyard said the top-priced Wooltrade lot last week was one-bale line of 14.2 micron Merino weaners fleece that sold for 1839c/kg clean, or 1300c/kg greasy. The 187kg bale yielded 70.7 percent, with an average staple length of 75mm, tensile strength of 31 Newtons/kilotex and 1pc vegetable matter content. It was branded Ngurra Merino/Walcha and offered by Elders Newcastle.

Top prices in the other micron categories included a three-bale 17 micron fleece wool line with a yield of 76.2pc, average length of 87mm, tensile strength of 36N/kt and 1.8pc vm that sold for 1522c/kg clean, or 1160c/kg greasy.

A 13-bale line of 18.5 micron wool sold for 1512c/kg clean, or 969c/kg greasy. It yielded 64.1pc, with an average length of 79mm, tensile 41N/kt and 2.5pc vm.

A three-bale line of 19 micron fleece made 1468c/kg clean, or 1035c/kg greasy. The line tested with a yield of 70.5pc, an average length of 99mm, tensile strength of 34N/kt and 0.6pc vm.

A 13-bale 20.2 micron fleece line with a yield of 68.3pc and average length of 80 mm sold for 1420c/kg clean, or 970c/kg greasy. It had a tensile strength of 25N/kt and 0.4pc vm.

A 10-bale line of 21.1 micron wool sold for 1397c/kg clean, or 940c/kg greasy. This line yielded 67.3pc, with an average length of 102mm, a tensile strength of 36N/kt and 1.3pc vm.

A three-bale line of 22.8 micron Merino fleece with a yield of 74.2pc, average length of 104mm, tensile strength of 26N/kt and 0.3pc vm sold for 1354c/kg clean, or 1005c/kg clean.

In the crossbred category last week, a three-bale line of 23.3 micron fleece sold for 1330c/kg clean, or 1059c/kg greasy on Wooltrade. The line yielded 79.6pc with an average staple length of 106mm, tensile strength of 47N/kt and 0.2pc vm.

A four-bale line of 26.2 micron wool with a yield of 73.2pc and 0.3pc vm sold for 1025c/kg clean, or 750c/kg greasy.

In Wooltrade’s oddment offering last week, two bales of 17.5 micron Merino pieces with 2.2pc vm sold for 1374c/kg clean, or 830c/kg greasy. The line yielded 60.4pc with an average length of 76mm, a tensile strength of 39N/kt and 2.2pc vm. It was branded Lewisham and offered by Roberts of Tasmania.

A two-bale line 16.9 micron Merino crutchings branded Chiswick/NE sold for 1156c/kg clean, or 690c/kg greasy. The line had a yield of 59.7pc with 2.7pc vm and was offered by Jemalong Wool.

Click here for the latest Wooltrade Top Prices Summary.

Source: Wooltrade.

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