THE southern wool market set a cracking pace at the start of last week for the first sale in 2016.
Rises of as much as 50 cents a kilogram were recorded on the back of one of the biggest auction offerings for some time – the sheer volume being the undoing of the market’s momentum.
As the northern auction chimed in mid week the market tried to keep pace, but settled a little lower by the time Thursday’s market had been completed.
Even so, with the Eastern Market Indicator settling at 1282c/kg (January 14) it was still 17c/kg higher than it’s 2015 close.
Much of the dearer action continued to be in the medium to broad range according to Australian Wool Exchange (AWEX) market information manager Lionel Plunkett.
Mr Plunkett said wools from 20- to 22-micron were the centre of attention and across the week were as much as 34c/kg dearer.
“Merino skirtings also closed 20c/kg higher after making smaller rises earlier in the week, but remaining firm towards the close.”
But, Mr Plunkett said the largest offering of crossbreds in 12 months struggled and mostly closed lower for the week.
Early this week, traders were gearing up for the largest offering in five years.
Only Melbourne sold on Tuesday and results were promising early in the sale.
Mr Plunkett said fine microns were a little softer in the first hour with lower spec types most affected.
At the same time, the medium to broad ranges had opened with good support trending in the seller’s favour.
On the Tuesday night close, the Southern Indicator had gained 1c/kg to settle at 1262c/kg. Likewise, the Eastern Market Indicator followed the trend and was 1c/kg higher at 1283c/kg.
Mr Plunkett said the finer microns recorded a little extra buyer support to be as much as 9c/kg dearer for 17.5 micron. The mid-micron wools, on the other hand, were softer in price by a few cents.
The oddments remained in demand and Mr Plunkett said strong competition pushed locks up 20c/kg, while stains and crutchings closed 10c/kg dearer.
