With more than 52,000 bales offered this week, the market was expected to open cautiously following the dramatic rise the week prior to Easter and reports of more subdued interest. Most types and descriptions closed between 1 and 2% cheaper on Wednesday depending on the selling centre, the selection and the price point at which they started the day. What is exceptional is the manner in which the market is rebounding in such a large offering. Despite the record auction levels, large volume and the seeming reluctance of many customers to believe in the current market, prices rebounded immediately. This is not a normal historical market reaction. Something is vastly different with the economics of wool supply and demand at the moment. There are more wools being offered that appear to be less than 12 months growth with growers choosing to cash in on the current price levels. This will have some effect on supply as we move into the later part of 2017.
compared with 12/04/2017
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|SCHNEIDER INDICATORScompared with12/04/2017|
|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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Auction quantities fall to around 40,000 bales weekly (20-25% less than this week) over each of the next few sales. The market focus is till on fine wool and in particular the better ones. Also attracting good competition are low VM fleece wools. A double skirt to keep average VM on the fleece wools might be a reasonable consideration for some growers if practical. Unskirted and poorly prepared wools are being neglected as buyers chase the necessary quality being demanded from our customers. They also tend to have more VM, something buyers and processors are having difficulty with at the moment.
|SELLING CENTRES FOR WEEK 43|
|SELLING CENTRES FOR THE NEXT WEEK 44|
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