Wool mar­ket re­port

AgLife - - News -

A spike in the mar­ket over the pre­vi­ous few weeks re­sulted in a surge of ex­tra wool com­ing onto the mar­ket this sale.

There were 53,248 bales of­fered, an ex­tra 18 per­cent when com­pared with the es­ti­mate for this se­ries a fort­night ear­lier, mak­ing it the largest to­tal since Jan­uary.

The five-year high for the AWEXEMI achieved last week was short­lived, with an abrupt drop in prices from the open­ing lot.

Mel­bourne sold in iso­la­tion on Tues­day and pro­vided a bleak out­look for the week when prices tum­bled 30 to 60 cents. Se­lected low cvh lots at­tracted most of the re­duced sup­port while off-types and lots out of spec­i­fi­ca­tion were ne­glected.

The other two sell­ing cen­tres fol­lowed suit on Wed­nes­day when they came on­line, how­ever, Mel­bourne was more op­ti­mistic and showed a firm­ing ten­dency and less volatil­ity.

Thurs­day con­tin­ued to im­prove and con­sol­i­date on the pre­vi­ous day’s lev­els, in­creas­ing by 10 cents. Next week is the fi­nal sale be­fore the an­nual three week Christ­mas re­cess and quan­ti­ties in­crease to 56,122 bales.

On the lo­cal front a big in­crease in XB LMS shear­ing has seen prices come un­der pres­sure, in par­tic­u­lar the 27 mi­cron plus cat­e­gories. Auc­tion sales of note this week for lo­cal clients were – 17.0 0.3 71.2 – 1205 cents, 17.5 0.5 69.3 – 1194 cents, 20.1 4.5 65.0 – 901 cents.

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