The AWEX eastern market indicator (EMI) decreased by around 1.5 per cent for the week or 23ac/clean kg lower to close at 1472ac/ clean kg. This is a level 176ac/ clean kg or 13.6 per cent higher than at the same period last season. With the weaker AUD v USD exchange, the movement was greater when the EMI is measured in USD to be almost 3 per cent cheaper, or 33usc/clean kg lower for the week at 1088usc/clean kg.
“Although the tone was generally weak throughout, it was a market of stark contrasts in sale results. All of the lower quality or heavier vegetable matter (VM) merino types finer than 19.5 micron faltered badly. In many instances these wools were well over 100ac/clean kg cheaper for the week,” the Australian Wool Innovation said in its ‘Wool Market’ report for the 48th sale week of the current season.
The finest microns were the most adversely affected, with all the price gaps appearing to contract towards the relative stability and more readily traded 21 micron type, the report said.
Conversely though, buyers sights were firmly aimed at the better superfine (finer than 18.6 micron) types and all lots broader than 20 micron. Both these sectors were well supported and fully firm to slightly dearer for wools broader than 20 micron. The very small selection of 21.5 to 23 micron wools were highly sought and concluded the week at levels 15 to 20ac dearer than the previous close.
Fine Crossbreds were dearer and the mid to broader range cheaper, albeit in a very small offering. In particularly good demand were the better wools of 23 to 27 micron, which in some individual cases were as much as 40ac clean kg dearer. Unusually high discrepancies of 30ac exist between the Sydney and Melbourne markets for mid range crossbreds 27.5 to 30 micron, perhaps indicative of the segment being at a period of unknown and slow demand.
There will be an extremely limited offering of just 25,000 bales at next week auctions. Better buying interest is expected over the next few weeks as manufacturing needs to increase productivity from August/September to cater for the key retail period of late Autumn/ Winter. (RKS)
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