Wool prices increase in first sale of 2013

15 Jan '13

4 min read

The US Exchange rate fell to 103.5¢ in late December, mainly due to a global lack of confidence associated with the lead up to the potential “fiscal cliff” in the United States. It has risen steadily since; then and passed 105¢ on Thursday for the first time since the third week in December.

Skirtings types also benefited from the upsurge in demand, with significant gains across all types. Medium and coarse crossbred types recorded similar increases to those seen for the Merino types. Oddments were also in good demand, as reflected in the increase in the AWEX Merino Cardings Price Guide.

Buyers for China were very strong this week, followed by strong support from buyers for India, Europe and Korea.

Highlights from the Australian Bureau of Statistics export data for November, and for the July to November period for the top five export destinations and for three other key destinations follow

Sales will be held in Sydney, Melbourne and Fremantle next week, when 58,228 bales are currently roistered for sale. Present estimates for the following two sales (Weeks 30 and 31) are 49,750 and 41,920 bales, respectively; an increase of 6.7% over the three sale period when compared with last year.

Next week’s sale will be the largest of the season.

Australian Wool Industries Secretariat Inc

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