Market opens cheaper after break
THERE was a lot of anticipation about how the market would open up this week after the traditional one-week Easter recess.
Early forecasts showed a sharp jump in roster volumes with close to 60,000 bales initially estimated.
In today’s terms 60,000 bales is a very large volume week and when we consider that every Merino bale is worth 50 per cent more than 12 months ago, it was going stretch the trade’s ability fund the week’s sales.
Thankfully we didn’t see the full 60,000 bales come to market, with final numbers coming in under 55,000 which no doubt helped with the sentiquoted to to ment as buyers sat down to sales in all three centres on Wednesday.
Unfortunately the slightly negative tone that was circulating during the break couldn’t be fully ignored and the market opened up cheaper, with 18.5 to 23 micron most affected.
These mid microns lost between 15 and 30 cents for the day, while both finer Merino types and crossbreds were unchanged. Looking at the market in a little more depth and we can see some changes in the offering beginning to take effect, in particular the vegetable matter content after the good spring and summer experienced up and down the eastern seaboard. Merino fleece in the northern region is averaging nearly 2.5 per cent VM, while their skirtings are closer to 8 per cent.
The same is appearing in the south, albeit not quite as dramatic at two per cent and 6.5 per cent respectively.
This bodes well for our FNF (free near free) Tasmanian clip as it begins to come on line.
On another note, the entry forms for this year’s Campbell Town Show are out and can be found on their website.