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AWEX wool indicator closes 4.4% higher last week

22 Oct '12
4 min read

46,841 bales were cleared to the trade. The New Zealand Merino Company also offered 1,820 bales in Melbourne on Tuesday of which +17.1% were passed in.

The year-to-date offering is 62,984 bales less (-10.8%) than at the end of the same week last year. Seller forecasts for the next three sales are all up on the corresponding weeks last year. If the forecast numbers are achieved, the year-on-year difference will be between -7% to -8% at the end of the period. The US exchange rate finished the week on an upward path, after falling earlier in the week.

Skirtings continued to be in very strong demand, with large price gains for all types in all centres, particularly on Wednesday.  It was a positive, but more subdued, market for crossbred wools.  All crossbred Micron Price Guide (MPGs) moved up, but by lesser amounts than their Merino counterparts.  Oddments continued their upward movement.  The average AWEX Merino Cardings Price Guide was up by another 2.8%.  It is the only AWEX Price Guide which is above its value at the start of the season.

Buyers for China were dominant this week, followed by strong support from buyers for India and Europe. Sales will be held in Sydney, Melbourne and Fremantle next week, when 39,997 bales are currently rostered for sale.  Present estimates for the following two sales (Weeks 18 and 19) are 47,136 and 41,700 bales, respectively; an increase of 9.3% over the three sale period when compared with last year. The New Zealand Merino Company is rostered to offer 1,800 bales in Week 18.

Australian Wool Industries Secretariat Inc (AWIS)

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