Wool market starts to settle

Wool market starts to settle

News
Aa

The volatility of the wool market may be starting to subside as auction prices recorded a balanced week of trading this week.

Aa

THE volatility of the wool market may be starting to subside as auction prices recorded a balanced week of trading this week.

The Eastern Market Indicator was up seven cents a kilogram to settle at 1542c/kg at the close of sales on Thursday.

Australian Wool Exchange market information manager Lionel Plunkett said the national quantity rose to 30,135 bales, however compared to this time last year, the offering was down by 21.4 per cent, or 73,762 bales.

"After the rollercoaster ride the Australian wool market has been on over the previous few weeks, this week's auction provided what many industry members were hoping for, a solid week in which prices were consolidated," Mr Plunket said.

On the first day of selling in Sydney, the individual micron price guides generally rose by 35c/kg to 55c/kg, pushing the northern region indicator up by 22c/kg.

"The second day the micron price guides in all centres rose, generally by 5c/kg to 15c/kg," he said.

Breaking down the Sydney auction results, the big movers for the week were in the mid-micron indicators.

The 19.5-micron wools lifted 53c/kg to finish the week on 1759c/kg, while the 20-micron fleeces gained 61c/kg to hit 1743c/kg.

Finer lines, such as the 18-micron wool lifted nearly 50c/kg to finished the week on 1902c/kg.

Mr Plunket said the skirting market attracted strong competition, pushing prices up by 30c/kg to 50c/kg, making the skirtings the best performing sector for the week.

In Sydney, the Northern Market Indicator ended the week on 1570c/kg.

"The national quantity reduces slightly for the following week," Mr Plunket said.

"Currently, there is 29,290 bales available to the trade, with all three centres in operation next week."

Aa

From the front page

Sponsored by