The Australian wool market has resumed this week after the annual three week mid year recess, recording a small overall loss.
As shearing continued during the break, wool continued to make its way into broker’s stores. As this was the first opportunity to sell at auction since early July, this is traditionally one of the larger sales of the season.
This year there was only 43,697 bales available to the trade, this was 11,666 less than the 55,363 on offer in Week 6 last year.
The market movements were varied across different sectors, different types and different microns.
In the merino fleece types the individual Micron Price Guides (MPGs) ranged between plus 42 cents (17 micron in the North) through to minus 45 cents (19 micron in the West).
The crossbred market was mainly positive. The 37 cent (6.5%) increase in the Southern 26 micron MPG a market highlight, only the 32 micron 10 cent loss in the same region preventing an across the board crossbred increase.
The carding market also recorded an overall gain, the three Merino Carding indicators (MC) rose by an average of 10.3 cents.
The AWEX Eastern Market Indicator (EMI) dropped by 3 cents for the series, closing at 1,176 cents. Although the fall in the EMI was minimal when viewed in Australian dollar (AUD) terms, due to a significant weakening in the AUD against the US dollar (USD) since the previous sale (the AUD lost 1.7 cents since the 12th of July), when viewed in USD terms the market reduction was larger, the EMI dropped by 22 US cents, a 2.8% reduction.
Sales will now continue every week until the end of year Christmas recess. Next week is another reasonably large offering as wool accumulated during the break makes its way to auction. There is expected to be 46,874 bales on offer in Sydney, Melbourne and Fremantle.
For full details of auction sales, download the reports below.
Read previous wool reports
Wool market update 13 July
Wool market update 7 July
Wool market update 29 June
Wool market update 22 June
Wool market update 16 June
Wool market update 8 June
Wool market update 2 June
Wool market update 26 May
Wool market update 19 May
Wool market update 12 May
Wool market update 28 April
Wool market update 6 April
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