Wool prices continued upward this week with just 22,000 bales offered and according to AWEX in their Weekly Market Report, it was the smallest merino fleece selection in over 8 years. The alarming point to this small volume is that it’s despite the 17.0 to 23.0 ‘Micron Price Guides’ (MPG’s) all being between the 96th and 100th percentile for price over the past five years. If the wool was available for sale, we’d expect more to be offered under these circumstances. Prices did start to settle late Thursday, in Melbourne only, but this was restricted to the more inferior types. As with any market movement, it’s the inferior wool's that are the most volatile. The better specification, better prepared woo'ls remain very keenly sought after and the Sydney sale was strong to the close as prices levelled between the selling centres.
compared with 15/06/2017
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|SCHNEIDER INDICATORScompared with15/06/2017|
|15 MICRON (*)||-||-|
|(*) 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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It has been expected that the first week in July, week 1 of the new season, would offer some relief to the small national quantity. This expected spike in volume is likely to be only marginal with an increase in the national offering next week taking some of the pressure off. The small and variable selection is creating some discrepancies in price between the markets. Melbourne was stronger than Sydney on Wednesday but this was more or less corrected on Thursday. Fremantle sales resume next week. The selection appears to be improving slowly as the impact of the excellent Spring in 2016 on the wool quality, and in particular the vegetable matter, starts to dissipate.
|SELLING CENTRES FOR WEEK 51|
|SELLING CENTRES FOR THE NEXT WEEK 52|
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