Australian wool EMI manages 3ac gain this week

Australia’s super fine Merino wools finer than 17.5 micron were 40 to 70ac dearer, 17.5 to 18.5 micron put on a 10ac gain whilst all types broader than 19 micron dropped 10 to 20ac. Crossbreds fell away quite a bit by a margin of 20 to 30ac and most of the carding wool sectors were generally 10/15ac dearer by the close of selling, the Australian Wool Innovation (AWI) Limited said in its commentary for the sale week 29 of the current wool marketing season.

“The auction purchasing and market direction was once again set by the major locally based exporters. In fact, Australia’s largest exporter bought an impressive 26 per cent of the Merino fleece and skirtings that were sold. Stronger Chinese top making interest and indent orders were seen on the Merino fleece to provide the stiffest of the competition and skirtings were fought over by mainly the traders and top makers,” the AWI commentary added

The buying of the crossbred wool types was dominated by a Chinese indent who outbid the traders as the Euro purchasing interest of last week waned for the time being. Carding wools remain the domain of locally based processors and traders.

Next week sees a schedule of around 46,000 bales to be offered, with a split auction week selling on Tuesday and Thursday as the official holiday for the national day of Australia is on Wednesday.

Fibre2Fashion News Desk (KD)