“I am predicting a jump in bales in September if the market does not get a jump start in the next month or two.”
Mr Benson said there is plenty of speculation of the market both rising and falling in the next couple of months. “I am on the positive side of the fence, that the market will rebound in time for spring.
“Where the biggest rebound is needed is in the 19 microns or better, as they are languishing at the bottom of their 10-year average prices with 16.5 microns being most affected and 1292c/kg being the micron price guide in the north.”
WoolTrade grower listings steady
Grower listings on Wooltrade continued to be steady at just over 14 thousand bales on the system with the seasonal low point now behind us, he said.
Mr Benson said the top price on Wooltrade last week was 1393c/kg clean for a 15.7 micron Merino fleece line offered by Ruralco. The next two lots were 16.5 micron Merino weaner lots that sold for up to 1335c/kg with unscourable colour.
“Most other microns for fleece wool were a little quiet but cardings and lambs were popular on the AuctionsPlus Wool online sale and the offer board, with a top price for a fine 15.2 micron, 40 millimetre lambs wool line at 650c/kg greasy.”
Mr Benson said the physical auction market soured last week as prices started to drift backwards and took away all of last week’s modest gains, with the AWEX Eastern Market Indicator stopping at 1020c/kg, “or where we were back in June this year”.
“Just 31 thousand bales up for next week and this may arrest any further slide as the Western region takes a scheduled break and physical auctions are held on Tuesday and Wednesday, to cater for the industries annual AWIS Wool Week.”