Weekly Wool Comments - 04.06.21

This week saw solid desire for various wool types, however, fine wools attracted the most demand. The AWEX Eastern Market Indicator made strong gains this week, increasing 17c on Tuesday and a further 6c on Wednesday to close out the week at 1,343c/kg or 1,040c in US dollar terms.

The decreased offering this week of 41,571 bales resulted in the pass in rate reducing to 7.5% from 11.7% last week. Week 50 has an estimated offering of 36,000 bales as the Western market will not operate, so it will be interesting to see whether demand is sustained despite this decrease and if it continues to bring the pass in rate down. A highlight for this week has been the EMI reaching its highest point this season, surpassing April’s top of 1,342c/kg.

The AuctionsPlus online offer board experienced a slight boost in sales this week with 654 bales sold, up 41 bales from last week. 16µ micron wool was in high demand with 111 bales sold to a top of 2,035c/kg greasy or 2,764c/kg clean, and 21µ micron wool was similarly demanded with 129 bales sold to a top of 985c/kg greasy or 1,269c/kg clean. The top priced lot online was 2 bales of 15.4µ micron Australian Superfine SUPAAA wool which sold for 2,130c/kg greasy or 2,934c/kg clean. This “DH/WALCHA” branded lot was 75mm in length, had 0.7% vegetable matter and was offered by Jemalong Wool.