Week 44; 04/05/2017 The AWEX EMI posted a 43c rise at auction sales in Australia this week.
The market greeted the smaller quantity (38,292 bales) on offer with notable urgency closing on 1544c, just 7c under the record high EMI set on the 23rd March this year.
Aided by a weaker AUD exchange rate, the market opened with keen interest on all Merino fleece and Skirting categories. The 17 to 22 MPG all posting between 60 and 80c increases over the two days of selling, the closing lots receiving the same vigorous bidding as the first offered.
Skirtings containing under 3% VM received good attention, but the increases in price were relatively less than their Fleece counterparts, whilst the heavier VM lots posted smaller gains for the week.
Crossbred types are continuously slugging away, rising ever so slowly with increases of 1-25c posted in the northern region and -2 to +11c experienced in the southern region.
Cardings and Oddments seem to have found a price equilibrium with great support over a wide range of types.
Next week the offering is 39,253 bales – with all centres offering – and the lower quantities expecting to attract keen competition.
Good quantities of forward contracts were executed this week. However, the bids pre July 17 sit at about 3% under cash, with past July 17 bids at about 7% under the cash price for 19 and 21 micron contracts. ~ Marty Moses
Market Report (PDF)