Aussie wool prices rise 3.7% last week

04 Feb '13

4 min read

The year-to-date offering is still behind last year, but gap is narrowing. Total offerings are now 8,651 bales less (-0.8%) than at the end of the same week last year (see table on the next page). Expected offerings of 50,000 bales over each of the next three weeks should which lift the year-on-year difference to a small positive number.

The US Exchange rate has fallen below 104¢ this week, after a relatively stable period when it ranged between 104.5¢ and 105.5¢ through December and the first three weeks of January. Financial analysts attributed the early falls to greater global confidence about the United States economy.

It was a very good week for skirtings types, with strong gains across all types and micron ranges on both days. The pass-in rate of 1.5% was the lowest of the season. Crossbred wools moved up during the week, but by smaller amounts than the gains in the Merino wools. Oddments had a more mixed week, but generally finished the week with gains on Thursday.

Buyers for China were very strong this week creating the drive that lifted the market. There was good support from buyers for India and Europe.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 51,956 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 33 and 34) are 50,400 and 51,700 bales, respectively; an increase of 10.1% over the three sale period when compared with last year.

The New Zealand Merino Company is rostered to offer 2,450 bales in Week 34.

Australian Wool Industries Secretariat

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