The AWEX EMI closed on 1525c at auction sales in Australia this week. The EMI maintained last week’s levels on the 40,699 bale offering, with a noticeable increase in support from a wide range of exporter’s. The entry of a new exporter company, Endeavour Wool hit the skirtings and cardings this week making the top four buyers list in both categories.
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The week opened with some positive numbers early on Wednesday with the EMI posting a 2c rise for the day. The 2c was handed back on Thursday as the market drew to a close, however there was a positive 93% of the offering cleared totalling $67.4m averaging $1778 per bale.
MPG movements across the Centres seemed at odds, so I best report the northern markets to save any confusion. 20c rises were experienced in the 17 and 17.5µ MPG with the 18MPG losing 6c for the week. 18.5-19.5µ rose between 3 and 7c and the 20-21 MPG both lost 7c. Skirtings added 10-20c for Wednesday’s sale day but surprisingly lost most of that on Thursday. Well prepared Crossbreds generally lost between 5 and 20c whilst the poorly prepared lots being punished the hardest. The Merino Cardings remained the jewel in the wool markets crown, rising in price by 20-30c across the country.
Next week’s sale offers 41,483 bales nationally, but the days will be staggered due to the Melbournian’s inability to work a 5 day week (joking), selling on Tuesday and Wednesday to accommodate the AFL grand final holiday whilst Sydney and Fremantle sell on Wednesday and Thursday. As mentioned last week the Nanjing Wool Conference was held in China with over 400 delegates attending. The general mood was reported as relatively positive, for the short term at least.
