The market again opened on a very firm note with increases across all micron types and wool types in all centres, except in the West where 21 to 24 micron wools eased slightly. Thursday saw further gains, when only Sydney and Melbourne were selling, with the greatest gains in 20 to 23 micron wools.
Week-on-week gains in average AWEX Micron Price Guides (MPGs) were 10¢ for 16.5 and 17.0 micron wools, 26¢ for 17.5, 30 to 35¢ for 18.0 to 23.0 and 18¢ for 24.0 microns. The MPGs for 17.5 to 23.0 micron wools are now all above their levels in sale 1.
Skirtings were in strong demand again, while oddments made small gains in the North and South on Wednesday only to fall back yesterday. Crossbreds had a good week, with gains of 20¢ plus in fine crossbred MPGs easing back to gains of 18¢ for 28 and 30 microns and 12¢ for 32 microns.
Purchases were again widely spread, with the reduction in activity by buyers for China again evident, but to a lesser extent. The Chinese wool quota issues remain unresolved. However the Chinese Ministry of Finance & Commerce (MOFCOM) confirmed at meetings with the Australian Government last Friday that 110 mkg of the annual quota of 287 mkg is yet to be filled.
Sales will be held in Newcastle, Melbourne and Fremantle next week, when 43,895 bales are currently rostered for sale. Present estimates for the following three sales vary from 44,200 to 47,500 bales, a decrease of 18.6% over the four sale period when compared with last year.
Sale quantities to date and over the next four weeks continue at low levels. This week's sale also included 17.8% of re-offered wools. As mentioned last week, how much is due to wool being withheld from sale until the Chinese issues are resolved, the fall in production, the reduction in in-store and on-farm stocks or the weather is not yet clear.
Australian Wool Innovation Limited
marketing@alchempro.com
