WOOLTRADE saw reduced demand from buyers as the physical auction market corrected last week.
Wooltrade market operations supervisor Tom Rookyard said the wool market last week took a tumble for the first time since the end of December as the AWEX Eastern Market Indicator closed at 1412c/kg clean and West Australian market indicator ended the week on 1457 cents.
“Wooltrade also saw a reduced interest with 100 bales selling.
“The online buying also followed the trend set at the physical auctions; however, there was renewed interest from the buyers and exporters on Friday,” he said.
“This may signal what lies ahead.”
The top price online last week was an 11-bale line of 17.2 micron SUPAAA Merino fleece wool, which yielded at 78.2 percent, with an average staple length of 82mm, a tensile strength of 49 Newtons/kilotex and 0.9pc vegetable matter content. The lot branded Urandangie sold for 1600c/kg greasy or 2046c/kg clean, and offered by WGM Wool.
A four-bale line 18.5 micron fleece sold for 1480c/kg greasy, or 1890c/kg clean. It yielded 78.3pc of 94mm long wool with a tensile strength of 46N/kt and 0.1pc vm.
A four-bale line of 21.1 micron fleece wool sold for 759c/kg greasy or 1390c/kg clean. The 94mm long line yielded 54.6pc, with a staple strength of 26N/kt and 0.6pc vm.
The skirtings category was topped by a five-bale line of 17.8 micron Merino pieces which sold for 1072c/kg greasy, or 1778c/kg clean. It yielded 60.3pc, with an average staple length of 89mm, tensile strength of 29N/kt and 2pc vm. The lot was branded PTW/Woolaroo/Yass and was offered be Elders Sydney.
“Looking forward, there is an estimated 44,000 bales on offer this week across all three selling centres.
“As mentioned above, Wooltrade saw an increase of buyers activity on Friday which initially signals the potential for a stronger market this week,” Mr Rookyard said.
“In addition to this, there is already reports from the physical auctions that all Merino types will be supported this week; however, crossbreds may continue to struggle.”
In his weekly market report Gordon Litchfield of Gordon Litchfield Wool Cooma mentioned that probably two good Merino fleeces and definitely three reasonable fleeces are now worth more than 1 tonne of wheat.