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Prices unchanged at Australian wool auctions this week

05
Apr '19
Pic: pixel2013 from Pexels
Pic: pixel2013 from Pexels
Prices continued to remain similar in trend to the existing patterns at the Australian wool auctions this week. The Australian Wool Exchange (AWEX) Eastern Market Indicator (EMI) lost a minor 4ac or 0.2 per cent to close the week at 1943ac clean/kg. The EMI when expressed in USD was 1382usc clean/kg at the close of sale week 40, unchanged from the previous week.

“The merino fleece and skirtings sectors are still drifting downward trying to adjust and find comfortable trading levels for the heavily drought-influenced on quality of the selection. Crossbreds remain well sought and continued to strengthen, whilst cardings realized further losses,” the Australian Wool Innovation Limited (AWI) said in its ‘Wool Market’ report for the week ending April 5, 2019.

Meanwhile, the data released by the Australian Wool Testing Authority (AWTA) showed that by weight there is only 10.3 per cent shortfall in wool compared to the last season. “If this figure holds up through till June, that will give a 2018-19 season tested weight of around 323 million kgs, which will be well above the 308 to 312 million kgs that most within the trade were expecting. A further loss of export weight of 2.45 per cent has been indexed as the average clip yield (dry) has fallen from 65.3 per cent to 63.7 per cent on a year to year comparison at the end of March each season, resulting in the lower clean kgs,” the report said.

There was also some decent and very welcome rain over a good section of the drought affected wool growing areas of NSW, Queensland and South Australia during the week. Whilst by no means drought breaking or widespread, the rain has provided some relief and hope to wool growers and the industry.

“Parts of the drought affected zones are reportedly on the verge of getting an Autumn and hopefully all areas get rain or follow up before cold sets in and stops any chance of decent pasture growth to carry stock through the winter,” AWI said.

There are 38,712 bales rostered to sell next week at the Australian wool auctions. (RKS)

Fibre2Fashion News Desk – India


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