With virtually no change in the benchmark AWEX Eastern Market Indicator, observers could mistakenly think it was an uneventful week. In the merino section, the finer the micron the dearer they were, and the broader the merino, the cheaper they got. That left those in the middle, around 18.5/19.5, with little movement. Despite the better style and processing qualities on offer, it didn’t seem to matter so much for the fine wool selection 17.5 micron and finer. They were all dearer, from the best style and strength to the most inferior lots, including the better light fault skirtings. Chinese interests battled for volume with the usual Italian demand which was, as usual, more focused on the quality lots on offer.
compared with 28/09/2017
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|SCHNEIDER INDICATORScompared with12/10/2017|
|15 MICRON (*)||2725||+6.86|
|(*) Marketed from September to March|
Each indicator is expressed by a number representing a market quotation for a selected range of types and is not a price expression and it's not influenced by currency fluctuations.
Wool indicators are anyway based on Australian Dollar.
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We might very well be concerned for the volume of wool sold to this same point in the season compared to last year. Almost 12% more first-hand wool has been offered for sale this year compared to the same period last year. As we’ve indicated before, production levels are not expected to increase by anywhere near this number. We’ve had a good run of dry weather and the wool is flowing on to the market quicker than usual to maximise grower returns in this strong market.
Price premiums for fine wool over the medium and broader range is now at a price that reflects production and the cost associated with growing it. According to AWEX reports, a 17.0-micron sheep that averages 4kg of wool is returning a similar amount as a 19.0-micron sheep at 5kg and a 21.0-micron sheep at 6kg. It remains simply the production of kg’s per sheep that will be the greatest factor that determines profitability. On that front we always recommend to growers to breed the best sheep and grow the best wool that their country and climate will allow rather than focus on a particular micron.
|SELLING CENTRES FOR WEEK 16|
|SELLING CENTRES FOR THE NEXT WEEK 17|
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