The AWEX EMI closed on 1285c - up 8c at auction sales in Australia this week.
The presale estimate for this week’s offering was 46,578 bales, however last week’s negative market result motivated sellers to withdraw 17% of the early estimates, leaving 38,564 bales to go under the hammer with 90.6% clearing to the trade. Currency exchange weakened substantially this week, with the AUD falling to 76.06c, down 2.27c. This saw the EMI fall 23c in USD terms.
Merino Fleece opened with noticeable widespread exporter support, driving the prices up on all of the Merino MPG’s. This week saw the Northern Region 16-18μ MPG’s pull well ahead of the Southern Regions MPG’s, with rises of 30-42c. The 18.5μ and coarser add 5-18c and were more in line with the southern MPG’s. The best classed and specified lots with low and medium VM sought favour with the exporters, whilst lots containing heavy colour, cotted wool or heavy VM remained more difficult to clear.
Merino Skirtings followed the fleece trend with rises between 10-20c with the superfine and fine lots with Low VM attracting aggressive buyer attention. The increase in the quantities of cott, colour and heavy VM reflects the impact of the seasonal improvement.
Crossbreds experienced support at their previous week’s levels with miniscule changes measured. It is hard to be positive about the price level of this sector when the 28 and 30 MG’s sit below their 10% decile.
Merino Cardings continued their good run with a national average increase in the MC of 15c. Whilst Sydney posted a 12c rise, Melbourne posted a 5c loss and Fremantle was the star with a 37c rise. The finer Merino Weaner/Lamb’s wool continued to gather momentum. Crossbred oddments continued to deliver small but important price rises this week.
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