Micron Mirror | Online trades just get better and better

Online trades just get better and better


Market Analysis
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THE much publicised foot and mouth outbreak in South Africa has resulted in overseas mills, buyers and exporters scrambling to the market, after China suspended all wool exports from that country.

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THE much publicised foot and mouth outbreak in South Africa has resulted in overseas mills, buyers and exporters scrambling to the market, after China suspended all wool exports from that country. 

Roughly 20 minutes after the Melbourne market had opened there were reports of the market rising 100 cents a kilogram; while online AuctionsPlus wool had eager buyers looking for wool with 217 bales selling in 45 minutes. 

This market rise was reflected by the AWEX Eastern Market Indicator gaining 42c/kg on Tuesday, a further 26c/kg on Wednesday, but easing 9c/kg on Thursday to close off at 2027c/kg. 

Across the week, AuctionsPlus sold 819 bales. 

Before this 261 bales sold online on AuctionsPlus over the weekend even before reports broke from South Africa indicating that a positive market was already likely. 

Online 14- and 16-micron fleece wool sold to 2004c/kg and 2020c/kg (greasy), while 17- and 18-micron fleece wool sold to 1840c/kg and 1750c/kg. The 19- and 20-micron fleece wool sold to 1725c/kg and 1725c/kg (greasy). 

The top priced lot sold online last week was a line of 15.3-micron SUPFNAAAA with the very low vegetable matter of 0.1 per cent. This lot was branded F.B.S. WALCHA and sold by Jemalong Wool for 2190c/kg. 

Skirtings were topped by a line of 15.6-micron Merino pieces which had 0.6pv vegetable matter, was branded YARRAWONGA/NE and offered by Wool Auctions of Australia (WAA). 

The 16- and 17-micron Merino pieces this week sold to 1250c/kg and 1200c/kg. 

A plethora of wool has been brought into this week’s auction sales, which meants an estimated 49,000 bales will be offered nationally. 

This wool had been brought forward, due to the sharp market rise and will certainly test the market. 

However, after this week the supply will revert to 38,000 and 36,000 bales for the following weeks. 

South Africa sales are scheduled  to recommence, with exports to Europe and India unaffected. 

China can participate in the sale, but cannot get the necessary health certificates to make a prompt shipment

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