The Australian wool market finished 1.1 percent lower, on average, at sales in Newcastle (sale held in Sydney), Melbourne and Fremantle this week. The AWEX EMI fell by 14 Aust cents (1.6 percent), ending the week at 859 Aust cents a kg.
This reflected falls of 9 Aust cents (1.0 percent) in the North and 19 Aust cents (2.2 percent) in the South, with their corresponding Regional Indicators finishing the week at 895 Aust cents and 829 Aust cents clean, respectively. The Western Indicator fell by 2 Aust cents (0.2 percent), finishing the week at 842 Aust cents.
In a three day Newcastle sale and a two day sale in Melbourne, the AWEX EMI was unchanged on Tuesday; fell by 6 Aust cents on Wednesday and by 8 Aust cents on Thursday. The Western Indicator fell by 2 Aust cents on Wednesday in a one day sale in Fremantle.
A total of 41,657 bales were on offer, compared with 39,098 bales last week, of which 12.7 percent were passed in, comprised of 7.8 percent in Newcastle, 14.8 percent in Melbourne and 19.0 percent in Fremantle. Pass-in rates for Merino fleece and skirtings were 13.5 percent and 8.6 percent, respectively. 1,218 bales (2.8 percent) were withdrawn prior to sale and re-offered bales made up 16.1 percent of this week's offering.
In a week of softer demand, the sales opened with prices down across all micron ranges in the Newcastle sale on Tuesday. This was followed with further falls on Wednesday and Thursday, apart from the fine wools in Newcastle where some Best Spinners types with good strength values were on offer and attracted good competition.
Average AWEX Micron Price Guides (MPGs) over the week were up by 21 Aust cents for 17.0 microns, down by 4 Aust cents for 17.5 microns, by 4 Aust cents for 18.0 microns, by 10 Aust cents for 18.5 microns, by 13 Aust cents for 19.0 microns and by 24 Aust cents for 19.5 microns.
The 20.0 micron wool average MPG was down by 17 Aust cents clean, 21.0 microns by 18 Aust cents, 22.0 microns by 18 Aust cents, 23.0 microns by 16 Aust cents, and 24.0 microns by 4 Aust cents. Skirtings were less affected than fleece types, firming on Tuesday before easing on Wednesday and Thursday.
Oddments were generally up, with the Merino Cardings Average MPG finishing up by 4 Aust cents for the week. Crossbreds were down, but to a lesser extent than the Merino types, with falls of around 3 Aust cents, on average, in their Average MPGs. Buyers for China were dominant with strong support from buyers for Europe at the Newcastle sale.
Sales will be held in Sydney, Melbourne and Fremantle next week, when 43,296 bales are currently rostered for sale. Present estimates for the following two sales vary from 44,690 to 47,900 bales, a decrease of 6.7 percent over the three-sale period when compared with last year.
The New Zealand Merino Company will also offer 1,609 bales in Melbourne next week in their first Australian sale of the season.Sales resumed in South Africa this week, where the Cape Wools Indicator was down by 9.6 percent since last sale before the break against a 2.5 percent appreciation of the Rand against the US Dollar and a 7.0 percent appreciation against the Euro.
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