In a two day sale of Australian wool, the AWEX EMI, increased by 2¢ on Wednesday, by 2¢ again on Thursday. The Western Indicator, increased by 4¢ on Wednesday and by 3¢ on Thursday.
The strength in the market, after two weeks in the doldrums, was driven largely by buyers for China and the ready availability of suitable wools for this market.
Merino fleece types commenced strongly on Wednesday, with gains of up to 10¢ for some types. The strength of the demand was maintained yesterday. Biggest gains were seen in 19.5 to 23 micron wools. Skirtings were strongly sought after with increases of up to 15¢ for the better types on both days.
Crossbreds, on the other hand, were more mixed, with good support in the North on Wednesday before easing yesterday and being softer on both days in the South. Oddments were generally up during the week, except in the South where there were some mixed results.
Buyers for China were particularly strong this week with continued support from the topmakers.
Sales will be held in Newcastle, Melbourne and Fremantle next week when 62,825 bales are currently rostered for sale. The current forecasts over the following three weeks show likely offerings of 56,400 (Melbourne Cup week) to 64,000 bales, all well above the corresponding weeks last year.
As said before, the increases will be due to the dry seasonal conditions, rather than to increased production.
In South African sales this week, their market was quoted as down by 1.3 percent against a 2.5 percent appreciation of the Rand.
Australian Wool Innovation Limited
marketing@alchempro.com
