However, in both foreign currencies, the wool market showed slight gains of 0.4 to 0.5 per cent, suggesting demand is attempting to align with limited supply, the Australian Wool Innovation (AWI) said in its commentary for week 50 of the current wool marketing season.
Exporters reported mounting difficulty in securing profitable sales. While Chinese buying persisted, it lacked the usual breadth. Nevertheless, top-making demand from China picked up, with the two largest buyers accounting for over 30 per cent of Merino fleece sales. Indian interest waned over the past fortnight, and European purchasing remained minimal, focused only on high-quality segments.
Amid fragile global trade sentiment, buyers were reluctant to stockpile inventory, leading to reduced competition for less desirable wool types. However, strong top-maker activity in China helped support pricing for these lots.
In contrast, crossbred and carding wool types defied the downtrend, with prices rising by 10 to 20 Australian cents across most categories, despite the adverse currency movements, the AWI commentary added.
Grower willingness to sell remained firm, with only 8.3 per cent of lots passed in and clearance rates exceeding 90 per cent.
Next week’s offering is expected to total approximately 22,000 bales. Fremantle will not hold a sale, instead building supply for Week 52. Auctions in Sydney and Melbourne are scheduled for Tuesday and Wednesday, though with reduced catalogue sizes.
ALCHEMPro News Desk (KD)
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