Week 08: 24/08/2017 The AWEX EMI closed the week on 1572c, down 42c on the previous week’s closing.
The market opened on Tuesday due to the annual Wool Week events being held on Thursday and Friday. Most fleece MPG’s lost between 20c and 65c in Sydney and slightly more in Melbourne, which was an unexpected result heading into the week especially with the significant smaller weekly offering. However in over the past fortnight most MPG’s in the Merino category remained largely unchanged.
However, what didn’t change was the demand for the best style and measured FNF fleece lots which remained in vogue albeit at lower rates. Discounts were variable for the medium and heavy VM content with the best prepared and specified lots enjoying a better market than the inferior style and prepared lots.
Skirtings mimicked the fleece with the sub 3% VM lots attracting the buyers’ attention. Crossbreds lost 15-30c for the week, with cardings reducing only slightly (-8c) in Sydney and 33c in Melbourne.
The pass-in rate hit 14% with Melbourne topping a pass-in rate of 18.6% in their fleece section and 15.2% overall. Next week the national offering 44,750 bales in three centres, and will be the first of the Superfine sale series in Sydney. I would expect that the superfine MPG’s will enjoy a positive week given the market intelligence, however the crystal ball is very cloudy for the remaining selection. ~Marty Moses