The AWEX EMI closed the week at 1,246c down 3c for the week (+5 in USc). Over half of the 41,730 bales offered nationally were offered at Melbourne sale series, which is the second largest Southern offering for the season. Whilst the sale opened with a slightly weaker price basis, some robust competition on the best measured and style lots saw the market close with a positive outlook for the next few sales. The North and South Micron Price Guides were able to move closer together than seen in previous weeks with the Southern quotes increasing slightly for the week whilst the Northern quotes moving ever so slightly downward.

Skirtings could not maintain the strong position they experienced in the previous weeks falling by up to 20c over the week whilst the Crossbreds came under pressure of the largest Crossbred offering in nine months. Outperforming the rest of the market was again the Carding Indicator increasing 18c in the Northern and 16c in the Southern markets demonstrating that demand for these types may continue into then New Year.

Next week the Australian national offering dips below the 40,000 barrier, offering 38,950 bales. Given the supply indicators for the year to date it is hard to see the current market falling too much before the market breaks for the Christmas recess. This week Chinese interests were more evident, however their previous on/off buying behaviour patterns, creates a cautious approach when predicting “what might be” too far into the future.

~ Marty Moses