Weight of volume on offer to test this week's wool market

Weight of volume on offer to test this week's wool market

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Auctions last week were postponed and all wool has been moved to this week, which will see almost 70,000 bales offered across the nation.

Auctions last week were postponed and all wool has been moved to this week, which will see almost 70,000 bales offered across the nation.

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Online buyer activity on AuctionsPlus Wool was steady, however, no doubt was hampered by the cyber-attack.

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The Australian wool market was postponed last week due to a cyber-attack on an industry service provider Talman.

Talman, which represents an estimated 75 per cent of wool brokers, saw its data transfer network OZDE EDI come under attack.

Auctions last week were postponed and all wool has been moved to this week, which will see almost 70,000 bales offered across the nation.

This disruption saw industry at a standstill leaving brokers, exporters, buyers and growers in limbo.

This highlights the reliance and consequent vulnerability almost every business nowadays faces due to our reliance on computers, however, it has been slammed by many in the industry.

Online, buyer activity on AuctionsPlus Wool was steady, however, no doubt was hampered by the impacts of the cyber-attack.

A total of 365 bales were traded across the week, with 14 and 15-micron fleece wool sold up to 1460 cents a kilogram and 1530c/kg (greasy) or 2131c/kg and 2090c/kg (clean). 17 and 18-micron fleece wool sold up to 1054c/kg and 1350c/kg (greasy) or 1811c/kg and 1875c/kg (clean).

While 19 and 20-micron fleece wool sold up to 1310c/kg and 1310c/kg (greasy) or 1819c/kg and 1827c/kg (clean).

The top priced lot was a line of 16.4-micron SUPAAA Merino fleece wool, which was 93 millimetres in length, had the very low 0.2pc vegetable matter. This lot was offered by Elders Melbourne, branded EJM/S and sold for 1640c/kg (greasy) or 2178c/kg (clean).

Merino pieces were topped by a 16.1-micron line, which had 5pc vegetable matter. This lot was offered by Primaries of WA, branded YARRABIN and sold for 1039c/kg (greasy) or 1928c/kg (clean).

Looking forward, the wool auctions are scheduled to open on Tuesday in Melbourne, and on Wednesday in Sydney and Fremantle, the weight of volume on offer will test the market.

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