FINALLY, the wool market seemed to find it’s feet after enduring several weeks of weaker results.
At the close of sales last week the Eastern Market Indicator was on 1525 cents a kilogram. This was the same as the closing figure a week earlier.
Australian Wool Exchange market information manager Lionel Plunkett said the auctions had what could best be described as a solid, steady week.
Mr Plunkett said there had been a gradual lift in the number of wools exhibiting large mid breaks and these types were now starting to attract more significant discounts, especially in the finer microns.
“The prevalence of these wools was a driving factor in pushing the market indicators in some microns down,” he said.
“Conversely, any lots with a mid-break of 20 or below are now attracting even greater premiums, as buyers attempt to average down their purchases.”
The skirting market had a mixed week.
Mr Plunkett said there were general gains of 10c/kg to 20c/kg on the first selling day, then those gains were completely eroded on the second to finish the sale generally unchanged.
“The crossbred sector experienced losses, 26-micron all the way to 32-micron generally fell by 5c/kg to 20c/kg, with the poorly prepared lines suffering the largest drop in price,” he said.
This week there is an unusual selling pattern, Melbourne will offer on Tuesday and Wednesday to accommodate a Friday public holiday, Sydney and Fremantle will offer on Wednesday and Thursday as per normal.