Auction quantities remain small and this continues to impact on the local prices. There is no doubt this supply is a major contributing factor in the market. The selection is improving in terms of quality fine wool despite the drought but we don’t expect this to quality offering to last long. The market was very firm on Wednesday and then eased back on Thursday. Good specification fleece wool remains keenly sought after across all micron categories. We saw little change in the better types on Thursday while the overall market certainly eased. In the medium to broader merino range 19.5 to 21.5 micron, prices seemed to firm a little late in the sale in both Melbourne and Fremantle. Recent trends have inclined to see a firming market after each softening trend. With only 35,000 bales nationally next week, it won’t take much to keep prices around about this level next week.
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There was only a little New Zealand wool on offer in Melbourne this week. The Tasmanian offering is expected to be reasonable but quantities are now quite small. The wool from the Goulburn / Yass region has been excellent until this point but we note a break in the staple that is coming up from the base. And, the New England region has been dramatically impacted by one of the worst droughts on record. The selection is good at the moment but we expect the fine wool season to be much shorter than usual in terms of the availability of best quality. Financing quality fine wool available on the market now for distant contracts will be a challenge for many.
Auction offering – current week
Selling Centres for week 10
Market Sale Offered Sold Passed In
North S 10 10898 10597 2.8%
South M 10 20141 19349 3.9%
West F 10 6998 6571 6.1%
Auction offering – next week
Market Sale Sale days Volume
North S 11 W-T 10370
South M 11 W-T 18546
West F 11 W-T 5666
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