The market opened cautiously on Wednesday and as a result the auction passed-in rate was sitting around 16% for merino fleece in the first hour. However, confidence quickly improved and buyer pressure returned resulting in most prices ending Wednesday’s sale fairly close the levels of the previous week. On average they were lower but the prices seen towards the end of sale were better than that. As a result, the passed in rate also fell to around 10% average for the day. Fremantle auction prices ended stronger than Sydney and Melbourne leading to what was to be a fairly strong market Thursday. There was little change in price for any better specification wool.
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The new wool season starts next week. Apart from a little extra volume, 43,000 bales, we don’t expect any change in the quality of the offering just yet. This is not expected to change until we return in August and September. AWEX report that the benchmark EMI increased by almost 35% for the year (June ’17 to July ’18). It has been a remarkable market run.
The Pitti Filati fair is currently being staged in Florence. Pitti Filati showcases yarns to international buyers and designers and presents new trends in yarns on a global scale to the fashion world. The Schneider Group has been present at the fair and we report that a very positive sentiment for wool remains and this is excellent news for the industry.
Auction offering – current week
Selling Centres for Week 52
Auction offering – next week
Selling Centres for the next week 53
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