It was noticeably a softening trend but the reduction was generally limited to between 1% and 2% for the week. Considering the market level, we would see this as a positive result. We’ve reported daily in our sale day reports how well supported the good fleece have been. This shouldn’t be underestimated. Despite all industry indices pointing to a lower market, we have no doubt that the good style and specification fleece types were much less affected by this market correction. Prices for the better fleece 16.0 to 18.5 micron haven’t moved much now for more than a month. Interest from a wider buyer group is resulting in increased demand for non mulesed wool, pushing prices higher for those declared as NM under the National Wool Declaration (NWD) scheme. Growers must be encouraged to complete this document accurately and if any doubt, should engage their broker for assistance.
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.
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Price levels seem to have been trading within a more stable range in recent weeks. There are market anomalies that both buyers and sellers are trying to come to terms with. On one side, demand must be affected by the higher price levels and customers are more likely to buy only as needed for prompt delivery. On the other hand, supply reductions continue to upwardly impact on local prices. We have realised a reduction in auction offerings this season by around 13.0% and ongoing concerns relate to supply into 2019. Of extra interest is lambing percentages this spring. This will impact supply into this period next year with spring 2018 lambing numbers not making an impact on production until this time in 2019 and beyond. The seasonal conditions remain at a critical point. Some recent rain has given some hope but follow up falls are needed as we move quickly into what is expected to be another hot dry summer. If it wasn’t for current wool prices, we are of the opinion that sheep numbers would be falling at a significant rate. Wool growers are more likely to try to hang onto stock while prices remain at these levels.
Auction offering – current week
Selling Centres for week 12
Market Sale Offered Sold Passed In
North S 12 8290 7692 7.2%
South M 12 21058 19231 8.7%
West F 12 5863 4856 17.2%
Auction offering – next week
Market Sale Sale days Volume
North S 13 W-T 10451
South M 13 W-T 17671
West F 13 W-T 6722
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