The AWf.X EMI closed the week on 1772c – down 6c at wool sales in Australia. The market reversed the previous week’s positive finish struggling from the sale opening at the special sale held at the Sydney Royal Easter Show.
All merino fleece categories were affected negatively by 20-45c across the eastern state centres with the exception of the broader merino MPG’s which posted a meagre increase.
Merino Skirtings lost 10-20c performing slightly better than the fleece.
Both the Merino Fleece and skirtings were supported well if they had the best specs and style while the lower style and specified lots were irregular and generally heavily discounted. Lots bearing hi staple mid-point breaks were also heavily discount.
Crossbreds showed more promising signs for another week and seem to be finding more favour with buyers as the offering declines.
Cardings were varied with a 2c rise in Sydney, Melbourne posted a 14c lift whilst Fremantle gained a whopping 57c. Despite the slightly negative market movement and the lack of meaningful rain is still a great time to be in sheep and wool.
Michael Avery Forward Market Report: The soft finish into the Easter break left both buyers and sellers unsure on the direction of the market. Although a negative week on the spot market the wash up was not as bad as some participants predicted. While some micron gave up 40 to 50 cents good quality wool of low CV and high tensile strength continued to sell well.
Buyers go into the recess still looking for confirmation from the processors that recent falls have been sufficient to see demand return to the market. This lack of commitment saw bidding prices on the forward drop away as the week progressed.
Some relief was delivered by a softer AUD that help prices firm by weeks end
We look forward to better bidding interest coming out after the Easter break and sellers narrowing the gap:
Wool sales break for the .. Easter Recess” and we return to a 48,809 bales offered nationally.
The staff and Management at Moses & Son wish all our valued clients a safe Easter and ensure you have marked off the open day at the Temora warehouse on Friday the 6th April. – Marty Moses
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