Wool market closes 2.5% lower

15 May '08

3 min read

The market opened on a negative note amid uncertainty about where it might find a new level and rising US and Euro exchange rates. The grower response was to pass in 24.0% (37.7% in the West) of the offering on the day. Thursday's scene was much more positive, with an easing of the US exchange rate and a stronger presence from some buyers for China who have been relatively quiet in recent weeks.

Overall, falls were seen across all Merino types and micron ranges (particularly in the 19 to 22 micron range). But, once again prices for the lesser quality wools retreated more than those for the better styled, higher yielding stronger types. Average AWEX Micron Price Guides (MPGs) were was unchanged clean for 16.5 microns, down by 8¢ for 17.0 microns, by 9¢ for 17.5 microns, by 6¢ for 18.0 microns, by 19¢ for 18.5 microns, by 29¢ for 19.0 microns and by 34¢ for 19.5 microns. The 20.0 micron wool average MPG was down by 22¢ clean, 21.0 microns by 21¢, 22.0 microns by 23¢, 23.0 microns by 20¢, and 24.0 microns by 14¢. Prices for skirtings showed a similar pattern to fleece types, with a general easing on Wednesday, followed by a firming on Thursday.

Oddments finished the week on a very firm note after dropping on Wednesday. The Merino Cardings MPG was down by 2¢ for the week, but this was minor compared with weekly falls in the order of 20 to 30¢ seen since mid-March. Crossbreds again fared better than Merino types with their average MPGs being up by 5 to 10¢ at the fine end and by 1 to 2¢ for the medium and coarse wools.

Australian Wool Innovation Limited

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