Will’s weekly wool report

Week starting 17/7/2017

Sale two of the 2017/18 selling season had mixed results but was to a slightly softer tone overall, with the Eastern Market Indicator back 2 cents to close at 1,522c/kg.

Elders district wool manager for the central west Will Chaffey discusses the latest news. Photo: Belinda Soole

Elders district wool manager for the central west Will Chaffey discusses the latest news. Photo: Belinda Soole

There were a total of 46,463 bales offed nationally with almost an 8 percent pass in rate which was a similar rate to the previous week.

The highest pass in rate was in the crossbred fleece category, which also had the highest reoffer percentage.

Fine wool firmed by up to 15 cents for wool below 18 micron while 18 to 20 micron softened by 5 to 25 cents.

21 micron and broader Merino remained firm, with 21 settling at 1,530c/kg.

While crossbred were up to 30 cents dearer with 26 micron now at 1,108c/kg clean, while 30 micron wool was 11 cents firmer at 560c/kg.

Merino Cardings appeared the most affected last week in Sydney, down 25 cents at the end of the week to finish at 1,129c/kg.

Forward contract bids remained healthy last week with late August transactions up to 60 cents dearer for the week.

This week is the start of the annual three week recess, with no auction sales to be conducted until the second week in August.