Weekly Wool Prices

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Week Ending 13 April (Week 41)

Australian wool markets moved clearly back to the positive this week as auction prices were sensationally dearer. Within the Merino sector gains of well over 100ac clean kg were recorded as buyers hit the market strongly to cover off new and existing open positions. Crossbreds were well sought with just the card-ing segment losing out in an incredibly strong week, build-ing on top of the already historically high price levels.

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Week Ending 7 April (Week 40)

Australian wool markets mirrored the downturn that was registered last week but a rather stunning reversal of fortune to the positive on the final day gave cause for some optimism. Despite the rally on the final day of selling, all Merino types were being quoted at a very general 60ac/clean kg lower level for the week. The carding segment became embroiled in the weakening market and recorded a general fall of 40ac/clean kg whilst the crossbred sectors was again far less affected and remained firm to 10ac dearer.

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Week Ending 31 March (Week 39)

Australian wool markets were dominated by large adjustments this week in the Merino sector. Unfortunately, this was all to the negative side, flowing on from the weaker conclusion to the previous week’s selling. Price levels were highly variable from the outset on all Merino wools, with large discrepancies apparent on relatively minor difference in tested specifications. By the close of selling, all Merino types were being quoted at a general 60ac clean/kg lower, whilst the carding and crossbred sectors were far less affected and remained unchanged to 20ac cheaper. The AWEX Eastern Market Indicator (EMI) fell away 44ac clean/kg from it’s highest ever recorded level to 1502ac clean/kg. Demand for prompt and short term shipment appears to have been met for the interim. After weeks of highly escalating market levels, the Merino wool values also seemed to hit a price point that just could not convince manufacturers to book forward contracts at these rates. Subsequently prices could not be sustained, as local auction buyers quickly interpreted the radical change in sentiment and reverted to safety mode by just cherry picking the selection at ever decreasing buy in levels.

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Week Ending 24 March (Week 38)

A quick glance at the unchanged and record equalling weekly close of the AWEX Eastern Market Indicator (EMI) at 1546ac clean/kg would appear that this weeks Australian wool auctions were rather mundane. This was far from the case, as some radical price movements were in evidence in the market, particularly at the super fine end of the merino offering.

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Week Ending 17 March (Week 37)

Another impressive week for wool sellers at Australian wool auctions. Strong price gains were achieved for most of the wool on offer as the market defied the unexpectedly stronger AUD against most of the major trading currencies. The super fine Merino segment was a standout once more as common gains of 100ac clean/ kg were registered. By the close of selling the AWEX Eastern Market Indicator (EMI) broke new ground once more to escalate to 1546ac clean/kg, a 24ac gain for the week. Greater gains were achieved In USD terms, with the EMI racing 43usc higher to 1187usc clean /kg.

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Week Ending 10 March (Week 36)

Positive price results were achieved again at this weeks Australian wool auctions. Essentially it was the superfine Merino sector that lead the price escalation, but pleasingly, compelling gains were also made at the finer end of the crossbred segment. Purchasing  activity saw the two most influential and largest operators strike the offering and top the buyers lists. Australia’s largest wool trader and China’s largest indent buyer were dominant in the sale rooms, and combined totals saw them acquire around 38% of the Merino fleece sold. By the close of selling the AWEX Eastern Market Indicator (EMI) settled at a new record of 1522ac clean/kg by registering the 22ac weekly gain. In USD terms, the EMI retracted by 4usc to 1144usc clean/kg on the back of a 2% weaker Australian dollar against the US dollar.

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