Weekly Market Report
Mark Dyson, Managing Director
Gains across all indicators
11 January 2019
The first wool sales for 2019 opened with strong buyer sentiment this week, continuing on the positive trend of sales seen prior to the three-week Christmas recess.
Assisted by an Australian Dollar trading at mid-71 US cents and a solid national offering of 47,593 bales, the trade looked to fill orders from the outset of selling, as the Eastern Market Indicator increased by 48 cents to finish the week out at 1910 cents per kilogram clean.
All Merino and crossbred wool types attracted solid gains to pre-recess values, with the Merino 17.5 – 22 micron fleece types gaining 43 – 84c/kg clean.
The finer 25 – 26 micron crossbred values increased by 59 – 67c/kg clean, with the broader crossbred types increasing up to 35c/kg clean as better prepared lots commanded the best competition.
Skirtings followed suit increasing 50 – 60c/kg clean, with lighter fault types exceeding these increases.
The carding wool sector traded dearer with the locks, crutchings and stain types showing increases of 35 – 50c/kg clean.
Despite the solid increase in values, the passed in rate was high enough averaging seven per cent across the week.
Next week’s national wool offering increases to an expected 53,908 bales, being one of the largest offerings for the 2018/19 season, with indications pointing to the following two weeks to also be in the vicinity of 40,000 plus bales.