Weekly Wool Comments - 11.06.21

This week saw solid gains across all micron prices with the finer wools again attracting the most demand. The AWEX Eastern Market Indicator made large gains this week, increasing 50c, to close out the week at 1,393c/kg or 1,078c in US dollar terms.

The decreased offering this week of 36,288 bales resulted in the pass in rate of 4.1%, reduced from 7.5% last week. With Fremantle in recess, the atmosphere in the East was positive from the commencement of auctions. Week 51 has an estimated offering of 45,341 bales as the Western market returns from recess. The increased offering is likely to be matched with a favourable ambience as the AUD:USD remains relatively steady. A highlight for the week has been the EMI reaching its highest point, in US dollar terms since the pre-pandemic summer of 2020.

The AuctionsPlus online offer board experienced a large boost in sales this week with 1,700 bales sold, up 1,046 bales from last week. 18µ micron wool was in high demand with 286 bales sold to a top of 1,460c/kg greasy or 2,025c/kg clean. Boarder micros performed well with 118 bales of >23µ micron wool selling to a top of 744c/kg greasy or 1,157c/kg dry. The top priced lot online was 1 bale of 15.9µ micron Australian Superfine SUPAAA wool which sold for 2,000c/kg greasy or 2,857c/kg clean. This “TA/BROOKSIDE/ARMIDALE” branded lot was 69mm in length, had 2.5% vegetable matter and was offered by Australian Wool Network.