Following on from the strength of last week’s auction, the market continued to rally. It was expected to remain positive but the extent of the price rise across all types and descriptions with the stronger Australian dollar against it, surprised most. Chinese interests dominated. According to the AWEX Weekly Report, the AWEX EMI is now at the highest recorded level. The strength of the EMI can be attributed to that fact that all types and descriptions gained considerably this week, even the crossbred sector which for months has remained in the doldrums. 21.0 micron rose nearly 6% for the week. We say it again, those with the wool can sell, those without the wool remain reluctant despite the record price levels. Only 2% of this week’s offering was passed in, another strong clearance rate leaving only those bales coming into store now available for sale. Growers held stocks are negligible. History is not being repeated, at least for the time being.
compared with 10/08/2017
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|SCHNEIDER INDICATORScompared with10/08/2017|
|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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There is no sale in Fremantle next week resulting in a reduction of the national quantity to just below 37,000 bales. The South African market opened strongly on Tuesday and triggered the rise in Australia this week. There is no doubt that the better prepared wool's, those prepared in shed under the AWEX Code of Practice guidelines, are attracting considerably more competition at auction and we strongly encourage growers to follow best practice to maximise returns. It is our strong view that any reduction in standards can only lead to lower prices.
|SELLING CENTRES FOR WEEK 7|
|SELLING CENTRES FOR THE NEXT WEEK 8|
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