This week saw physical selling centres offer slightly under the expected number of bales of 51,000, with 49,003 presented, of which 42,441 bales sold. The AWEX Eastern Market Indicator (EMI) was back up this week, rising 8c to closeout at 1,428c/kg or 1,065c/kg is US dollar terms.
The passed in rate rose slightly, up to 13.4% from 12.6% last week suggesting that demand decreased at the same rate that supply did. China remained the dominant buyer at physical selling centres due to their recent removal of an import quota. However, local and other international buyers provided a level of competition for the Chinese buyers. The annual winter recess will commence next week which will last for three weeks, so will be interesting to see the level of supply after the recess and how this will impact demand.
The AuctionsPlus online offer board saw another increase in sales for the second consecutive week with 867 bales sold for the week. 18µ and 19µ micron wool were in demand this week with 114 and 125 bales sold, respectively. 18µ micron wool sold to a top of 1,495c/kg greasy or 2,106c/kg dry, and 19µ micron wool sold to a top of 1,380c/kg greasy or 1,788c/kg dry. The top priced lot online this week was 3 bales of 15µ micron Merino fleece wool which sold for 2,335c/kg greasy or 3,354c/kg dry. This lot was offered by Nutrien Ag Solutions – Victoria, is “CHTL/GRY” branded, 69mm in length and had 1.9% vegetable matter.
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