The EMI in US terms (735¢) is 40¢ above the 2002/03 peak of 695¢.
With less evidence of overseas buying activity, this week saw an easing in the market after last week's gains. In a period of uncertainty due to the quota issues in China the market continues at levels which are still greater than they were in the first sale after the break.
Prices came off for all micron ranges and all wool types on Tuesday. Most Micron Price Guides fell by 20 to 30¢ clean, with falls of 40 to 50¢ in the fine wools in Sydney, where the comparison was with a Newcastle sale the week before. Week-on-week average MPGs last night were down by 66¢ for 16.5 micron wools, by 51¢ for 17.0 microns, by 35¢ at 17.5, by 30 to 40¢ for 18.0 to 21.0, by 20¢ for 22.0, by 16¢ for 23 and by 33¢ for 24 microns.
As usual, better and stronger wools attracted good support from buyers. Skirtings were down also, but were less affected than fleece type, as seen in their lower pass-in rate. Oddments had a mixed week, but were generally down and crossbred wools hung in reasonably well, with their average Micron Price Guides being down by around 10¢ on average.
Purchases were again widely spread, with a mixed presence by buyers for China. The Chinese wool quota issues remain unresolved. The Australian Trade Minister, Warren Truss met the Chinese Commerce Minister, Mr Bo Xilai, at a Regional trade meeting in the Manila last Sunday. But no news or outcome was available at the timeof writing.
Sales will be held in Sydney, Melbourne and Fremantle next week, when 52,175 bales are currently rostered for sale. Present estimates for the following three sales vary from 55,400 to 57,400 bales, a decrease of 9.9% over the four sale period when compared with last year.
There was no sale in South Africa this week.
Australian Wool Innovation Limited
marketing@alchempro.com
