Wk 41 12/04/2017 The AWEX EMI rebounded by a solid 53c, closing the week on 1512c.
The continuation of last weeks “closing day”, a glimmer of hope certainly followed through in the hallmark Sydney Royal Easter Show sale, proving to be another successful outing.
Due to this week’s Good Friday Holiday the sale series moved to Tuesday and Wednesday sale days -offering over 43,000 bales to the trade.
The positive tone was felt from the first lot of the week as buyers resumed their aggressive purchasing patterns across the entire Merino selection, adding between 40c to over 130c on the medium Merino offering.
As in the previous bullish markets of a fortnight ago, buyers aggressively chased the stylish lots; however, this week’s lesser style wool enjoyed similar rises as buyers fought to secure wool.
The skirting market closely mirrored the fleece, best style & specified lots, with special attention being paid to the low VM lots, but this week lesser style and higher matched it with their more flashy cousins posting gains between 50 and 80 cents for the week.
Crossbreds joined the party with improved buyer support, delivering rises of between 10 and 30 cents.
Cardings bucked the trend with falls posted of up to 17c for the week. Sales pause for their one week
Easter recess next week before returning with an expected 50,000 bale offering post Easter.
~ Marty Moses
Market Report (PDF)