Markets

Wooltrade sells more than 1200 bales as wool market lifts during IWTO Congress

Sheep Central, April 12, 2016

Wooltrade logoDEMAND for wool online increased last week with more than 1200 bales sold on Wooltrade as physical market prices jumped in Australia.

Wooltrade market operations supervisor Tom Rookyard said demand was keenest for Merino and comeback fleece as the Australian wool market last week opened on Tuesday at the 85th IWTO Congress in Sydney.

The AWEX Sydney northern indicator rushed up 25 cents at 1286c/kg clean. Skirtings, cardings and crossbred wools were quoted as firm or unchanged.

“When the Fremantle and Melbourne physical auctions joined Sydney on Wednesday, the Eastern Market Indicator gained a further 26 cents, to bring the EMI to 1275c/kg clean.

“However, on Thursday when the open cry auction was without Sydney, the market retracted by 5 cents and the EMI closed at 1270c/kg,” Mr Rookyard said.

“The step back the market took on Thursday is an interesting point, as in US dollar terms, it actually made a further 3-cent gain due to the exchange rate at the close of the day.”

Online, the jump in the physical market flowed clearly onto Wooltrade.com.au with 1203 bales of grower wool traded, Mr Rookyard said.

The top-priced lot for the week was a single bale of 14.1 micron Merino weaner fleece, 79mm in average staple length, that made 1680c/kg clean or 1300c/kg greasy. This lot was offered by the Petali Merino Stud in the New England region of New South Wales via Elders at Newcastle.

An 11-bale 17.7 micron Merino fleece line sold for 1575c/kg clean or 1060c/kg clean. It yielded 67.3 percent, with an average staple length of 84mm, a tensile strength of 40 Newtons/kilotex and 1pc vegetable matter content.

A six-bale line of 18.4 micron fleece with a yield of 68.1pc, average staple length of 82mm, tensile strength of 53N/kt and 0.4pc vm sold for 1557c/kg clean or 1060c/kg greasy.

A 17-bale line of 19 micron wool made 1454c/kg clean or 890c/kg greasy. The line yielded 61.2pc, hand an average staple length of 97mm, tensile strength of 33N/kt and 0.8pc vm.

A 10-bale line of 20 micron Merino fleece made 1426c/kg clean or 890c/kg greasy. The line yielded 62.4pc, had an average staple length of 102mm, a tensile strength of 37N/kt and 1.1pc vm.

A three-bale line of 21.1 micron fleece sold for 1399c/kg clean or 1030c/kg greasy. The line yielded 73.6pc, with a mean staple length of 85mm, a tensile strength of 41N/kt and 0.5pc vm.

A four-bale line of 22.4 micron Merino fleece with a yield of 67.4pc, average staple length of 104mm, tensile strength of 23N/kt and 0.2pc vm sold for 1300c/kg clean or 876c/kg greasy.

A six-bale line of 17 micron Merino pieces, 87mm long with a yield of 64.9pc, tensile strength of 33N/kt and 0.8pc vm sold for 1356c/kg clean or 880c/kg greasy. This lot was branded BRC & Sons/Stonor and was offered by Roberts of Tasmania.

All three AWEX auctions centres will offer a combined 44,000 bales this week.

“Last week the prices may have been influenced by stiff demand at the IWTO conference, and all eyes are looking to see if the Thursday dip will continue.

“Perhaps the smaller supplies will abate the Thursday slide, and better exchange rate now available may rally demand,” Mr Rookyard said.

Click here for last week’s Wooltrade Top Prices Summary.

Source: Wooltrade.

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