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2011-5-25
Competition was very keen for the better wools, with some very good prices being paid. The overall quality of the offering in the East is still affected by the heavy summer rain, although trade reports indicate the South Australian wools are less affected. The greatest competition was in the 19.0 to 22 microns range, where the average AWEX MPGs were up by around 5%, or better (75¢ to 85¢).
The EMI in US currency (1451¢) is the highest for the season. It has risen by 87.6% since July compared with a 54.3% increase in Australian currency.
It was another good week for the better type skirtings, with strong demand and good price rises on Wednesday and Thursday. The lesser lines continue to be discounted and struck some seller resistance when the Pass-in rate for skirtings rose to 14.3%, almost twice that for fleece types. It was also a good week for crossbred wools, although not as good as for Merinos. Oddments were the only wools to lose ground, as was the case last week. Nevertheless, their prices remain at very good levels with the average AWEX Merino Cardings Price Guide at 765¢.
Buyers for China were dominant with other buying support from India, Korea, Europe and Taiwan.
In a smaller week, sales will be held in Sydney, Melbourne and Fremantle next week, when 33,495 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 48 and 49) are 37,220 and 26,500 bales (no Fremantle sale), respectively; a decrease of 18.6% over the three sale period when compared with last year.
Sales are in recess in South Africa until next week.
Source:Australian Wool Industries Secretariat
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