Wk 06 18/08/2016. The AWEX EMI was able to maintain its previous level increasing by 1c in AUD and USD closing the week at 1,298Ac and 1001USc respectively.

What was widely expected to be a cheaper market, opened in Melbourne down 10-15 c whilst Sydney’s opening day was able to hold within a few cents of last Thursday’s close. Thursday’s market generally trended dearer however, it was the Southern market that posted the largest gain, in an attempt to realign with the dearer Sydney market.

As experienced last week the 19 micron and finer best style and measured fleeced lots were keenly sought after, whilst the 19.5 micron and coarser types posted slight falls. Poor style and measured lots seemed to be better supported this week. Skirtings continued their elevated support of last week with the low VM lots most sought after. Whilst Crossbreds continued their upward trend of last week. The other good news story was in the carding wool sector which fell 40c last week. This week’s turnaround was welcomed and evidence of the ongoing strength in this category.

The 4.8% pass in rate supported the positive wool story and with just 31,500 bales on offer next week, as a result of both Fremantle sitting out and the Wool Week event distracting the industry players temporarily. One can only think that this market is set to continue performing well in the short to medium term. ~ Marty Moses

Market Report wk7 (PDF)