Weekly Wool Comments - 23.04.21

The national wool offering saw a minor drop this week, with 40,402 bales offered compared to 46,256 the previous week that resumed post recess. The market however recorded positive results, with demand pushing the AWEX Eastern Market Indicator 27c on Tuesday and softening to 21c on Wednesday, closing the selling week at 1,312c/kg or 1012c in US dollar terms.

The passed in rate contracted from last week, sitting at 10.7%. Australia is some seeing positive movement from China and other interest in Europe and India, providing activity to assist the market in the finer micron fleeces. The selling week failed to deliver the expected scheduled offering, falling short by over 5,000 bales. With a boost in weekly gains and enjoyable sale outcomes seen this week, it will be interesting to see if the 51,000 scheduled bales on offer for next week will be met.

Online Offer Board

The AuctionsPlus online offer board experienced a steady week, with 204 bales sold for the period. The finer 16µ and 18µ micron wool saw the most interest, with 65 and 22 bales sold, respectively. 16µ micron wool sold at a top of 1,925c/kg greasy or 2,484c/kg dry and 18µ micron wool sold to a top of 1,431c/kg greasy or 1,898c/kg dry. The top priced lot online was a 15.4µ superfine merino fleece which sold for 2,010c/kg greasy or 2,723c/kg dry. This lot was 98mm in length, had 0.3% vegetable matter, was offered by Nutrien - Victoria and is “KELVEDON” branded. With seasonal changes and wet conditions on the way, it will be interesting to see the affect shearing rates and storage ability has on the market in coming weeks.