Weekly Wool Comments - 16.04.21

Physical auctions returned this week, after the Easter recess, with a large offering of 46,256 bales. The offering was met with a softer market throughout the week as the AWEX Eastern Market Indicator lost 7c/kg on Tuesday and a further 8c/kg on Wednesday, to close the week at 1291c/kg or 996c/kg in US dollars.

Reduced buyer confidence was demonstrated across the markets return as the pass in rate pushed up to 14.3%. The nervous return to auctions was notably maintained by the strengthening finer range wool market which attracted solid support throughout the week. With the finer ranges holding the AWEX Eastern Market Indicator the coming week’s increased offering of an estimated 52,887 bales will indicate if the market is bullish.

Online Offer Board

The AuctionsPlus online offer board saw an increase in activity over the week as there were 415 bales sold for the period. There were 114 bales of 16µ micron wool sold online this week to a top of 1,800c/kg greasy or 2,403c/kg dry. 17µ micron wool was the largest selling range this week with 203 bales selling to a top of 1,590c/kg greasy or 2,157c/kg dry. The top priced lot online was 2 bales of 14.9µ micron Merino AAASUP fleece which sold for 2,300c/kg greasy or 3,034c/kg dry. This lot has 0.5% vegetable matter, is 81mm in length, and was offered by the Jemalong Wool with “DH/WALCHA” branding.