The major changes in the market occurred on the first days of selling in response to the downward movement as seen in the last Melbourne sale. The AWEX EMI dropped by 6¢ on Tuesday, by 1¢ on Wednesday, a further 3¢ yesterday. The Western Indicator fell by 18¢ on Wednesday and by 4¢ yesterday.
Prices came off across all micron ranges with falls of up to 20 to 30¢ reported in the 21 to 23 Micron Indicators on Tuesday in Sydney. Falls were less among the finer wools except for 19 microns where the Indicator fell by 23¢. Prices continued to fall over the next two days. Skirtings, oddments and crossbreds fared better, being relatively unchanged on Tuesday before easing on Wednesday.
Europe is on holidays now and there are some reports of uncertainty in China. The battles over Chinese textile exports to the United States and the EU, which began with the lifting of import quotas on 1 January, appear to be well short of final resolution.
Sales are to be held in Sydney, Melbourne and Fremantle next week, with 70,800 bales rostered for sale.
Australian Wool Innovation Ltd.
marketing@alchempro.com
