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AWEX Merino Cardings MPG fall by 37¢
28 Apr '08
4 min read
It was another easier week for the wool market, in which it was influenced by a combination of softer demand, significant quantities of wool in the lower half of the quality scale, clear and greater differences in the demand and prices paid for the better wools and a further rise in the US exchange rate.
Growers responded to the fall in Australian currency by passing in 21.5% of the offering and withdrawing another 4.8% prior to sale. Although down in A$ terms on Wednesday, prices had steadied to some extent with an increase in US terms and rises at the find end and for the better styled wools with high Staple Strength values attracting some good prices. The finer wools finished up for the week.
Average AWEX Micron Price Guides (MPGs) were up by 34¢ for 17.5 microns, by 11¢ for 18.0 microns and by 9¢ for 18.5 microns, and were down by 27¢ for 19.0 microns and by 23¢ for 19.5 microns. The 20.0 micron wool average MPG was down by 25¢ clean, 21.0 microns by 25¢, 22.0 microns by 28¢, 23.0 microns by 27¢, and 24.0 microns by 20¢.
Skirtings eased on Tuesday in line with fleece wools. However, Wednesday saw the better styled skirtings remain firm while other types eased further. Oddments continued to fall, with the average AWEX Merino Cardings MPG falling by a further 37¢ clean.
These wools have suffered the most in recent weeks with average MPG down by 90¢ (-16.6%) since the last sale before Easter. Crossbred prices also eased, their average MPGs being down by around 10¢ at the fine end and by 6¢ at the coarse end.
Buyers for China were dominant with a strong presence from buyers for Europe and for India.
Sales will be held in Sydney, Melbourne and Fremantle next week, when 57,048 bales are currently rostered for sale. Present estimates for the following three sales vary from 44,400 to 50,590 bales, an increase of 18.0% over the four sale period when compared with last year.
The year-on-year difference is inflated by there being no sale in Fremantle in Week 45 last year.
There were no sales in South Africa this week.
Growers responded to the fall in Australian currency by passing in 21.5% of the offering and withdrawing another 4.8% prior to sale. Although down in A$ terms on Wednesday, prices had steadied to some extent with an increase in US terms and rises at the find end and for the better styled wools with high Staple Strength values attracting some good prices. The finer wools finished up for the week.
Average AWEX Micron Price Guides (MPGs) were up by 34¢ for 17.5 microns, by 11¢ for 18.0 microns and by 9¢ for 18.5 microns, and were down by 27¢ for 19.0 microns and by 23¢ for 19.5 microns. The 20.0 micron wool average MPG was down by 25¢ clean, 21.0 microns by 25¢, 22.0 microns by 28¢, 23.0 microns by 27¢, and 24.0 microns by 20¢.
Skirtings eased on Tuesday in line with fleece wools. However, Wednesday saw the better styled skirtings remain firm while other types eased further. Oddments continued to fall, with the average AWEX Merino Cardings MPG falling by a further 37¢ clean.
These wools have suffered the most in recent weeks with average MPG down by 90¢ (-16.6%) since the last sale before Easter. Crossbred prices also eased, their average MPGs being down by around 10¢ at the fine end and by 6¢ at the coarse end.
Buyers for China were dominant with a strong presence from buyers for Europe and for India.
Sales will be held in Sydney, Melbourne and Fremantle next week, when 57,048 bales are currently rostered for sale. Present estimates for the following three sales vary from 44,400 to 50,590 bales, an increase of 18.0% over the four sale period when compared with last year.
The year-on-year difference is inflated by there being no sale in Fremantle in Week 45 last year.
There were no sales in South Africa this week.
The Woolmark Company
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