Market continues its record high

Week commencing 13/11/2017

Will Chaffey, District Wool Manager for Central West NSW. Photo: Belinda Soole.

Will Chaffey, District Wool Manager for Central West NSW. Photo: Belinda Soole.

Continuing to add to its record high, the Eastern Market Indicator reached 1,681c/kg, gaining 58 cents in last week’s market.

All micron indicators rallied strongly with one indicator in the South rising 125 cents in the two days of selling. In the North, the 17 micron indicator gained 34 cents to finish the week at 2,488c/kg, 19 micron found 37 cents to settle at 2,005c/kg and the 21 indicator gained 37 cents to reach 1,645c/kg.

Crossbred wool was the big winner out of last week’s sale, with the 28 micron indicator rising 87 cents to get to 815c/kg clean, while 30 micron wool improved 15 percent in the week to reach 616 c/kg.

Another highlight for the wool market last week was the recording the lowest pass in rate since late 2015, with a national overall percentage of 1.3 for the 42,432 bales offered.

While Sydney’s sale managed to keep this figure below 1 percent for its 11,152 offered.

Of the national offering last week, Techwool Trading secured the largest volume of Merino fleece bales at 16 percent, the most Merino skirting wool at 22 percent and the most Crossbred wool with 22 percent.

An interesting note for the week is that there is currently an unprecedented turn-around time in the interval for wool to shipped, from the day it is purchased, emphasizing the hand to mouth nature of the wool market at present.

This week has a larger offering of 49,486 bales nationally, with Sydney to offer 12,993 of these bales,

Melbourne will host 27,328 bales and Fremantle will offer 9,165 bales.