Australian Wool Innovation Limited reported that the Australian Wool Market was again buoyant, with prices finishing 1.8 percent higher, on average, at sales in Newcastle, Melbourne and Fremantle.
The AWEX EMI increased by 14¢ (+1.9 percent), ending the week at 746¢/kg clean. This reflected increases of 16¢ (+2.1 percent) in the North and 11¢ (+1.5 percent) in the South, with their corresponding Regional Indicators finishing the week at 765¢ and 729¢ clean respectively.
The sale in Fremantle saw the Western Indicator increase by 13¢ (+1.9 percent), finishing the week at 714¢/kg clean.
The EMI has risen by 113¢ (17.9 percent) since sales resumed in January and is 11¢ above the season peak of 735¢ recorded in Week 2 of selling.
65,686 bales were on offer (compared with 74,398 last week), of which 7.2 percent were passed in, comprised of 2.5 percent in Sydney, 6.8 percent in Melbourne and 11.9 percent in Fremantle.
Pass-in rates for Merino fleece and skirtings were 8.2 percent and 4.2 percent respectively. 2,472 bales (3.6 percent) were withdrawn prior to sale and re-offered wools made up 11.9 percent of this week's offering.
The New Zealand Merino Company offered 4,485 bales for sale on Tuesday, of which 27.2 percent were re-offered wools. The pass-in rate was 9.6 percent, possibly a record low for that company, reflecting grower responses to the market.
As mentioned last week, the improved market conditions have flushed out a lot of wool, particularly amongst fleece wool.
marketing@alchempro.com
