The Australian wool market finished 0.9 percent higher, on average, at sales in Sydney, Melbourne and Fremantle this week. The AWEX EMI rose by 11c (+1.1 percent), ending the week at 998c/kg, just short of the magic 1000c.
This reflected increases of 5c (+0.5 percent) in the North and 16c (+1.7 percent) in the South, with their corresponding Regional Indicators finishing the week at 1035c and 967c clean, respectively. The Western Indicator rose by 6c (+0.6 percent), finishing the week at 998c.
In a three day sale in Sydney and Melbourne, the AWEX EMI rose by 5c on Tuesday, by 1c on Wednesday and by 5c on Thursday. The Western Indicator rose by 3c on Wednesday and by 3c on Thursday in a two day sale in Fremantle.
62,754 bales were on offer, compared with 54,299 bales last week, of which 10.6 percent were passed in, comprised of 9.3 percent in Sydney, 10.9 percent in Melbourne and 12.2 percent in Fremantle. Pass-in rates for Merino fleece and skirtings were 11.0 percent and 10.6 percent, respectively. 2,224 bales (3.4 percent) were withdrawn prior to sale and re-offered bales made up 10.7 percent of this week's offering.
The New Zealand Merino Company offered 2,951 bales in Melbourne on Thursday of which 10.9 percent were passed in. 6 bales (0.2 percent) were withdrawn prior to sale and 11.8 percent of the bales were re-offers.
When looked at in other currencies, the AWEX EMI was unchanged in US terms and up by 8c (+1.4 percent) in Euro terms when compared with the previous sale. It was another good market this week, with the market finishing on a strong note as it goes into the last sale before the Christmas break. Demand for the stronger and better styled wools was very keen, as was seen in the offering of 5,283 bales of Tasmanian wool in Melbourne on Tuesday. There were reported premiums of 100c and AWEX Southern Market Indicator rose by 12c on the day compared with a 5c increase in the North (which was coming off a Newcastle sale). Lower strength and poorer style wools, although attracting competition, were quoted as easing or irregular. The New Zealand wools offered in Melbourne on Thursday sold well.
Prices rose across all Merino micron ranges and types with the average AWEX Micron Price Guides (MPGs) up by 10 to 14c clean for 16.5 to 17.5 microns, by 23c for 18, by 13 for 18.5, by 17 to 20c for 19.0 to 20.0 microns, by 2 to 7c for 21.0 to 23.0 microns and 15c for 24 microns. Merino skirtings once again finished on a positive note, with those from Tasmania attracting strong competition on Tuesday.
Oddments also were in good demand during the week, with their average MPG up by 4c. Fine crossbreds gained a little, whereas medium and coarse crossbreds eased slightly. There was a good spread of competition with buyers for China very strong and good competition from Italy, the rest of Europe and Korea.
In the last sale before the Christmas break, sales will be held in Sydney, Melbourne and Fremantle next week, when 64,157 bales are currently rostered for sale. This is slightly up (+1.9 percent) on the same sale last year.