Wool report: Drought conditions impacts national wool offering

Photo: File.
Photo: File.

Week Commencing: 10/09/18

Week 10 had a national offering of 38,549 bales, a slight increase on last week but less than last season once again reflecting on the wide spread drought conditions.

Mid-week the AUD hit a two- year low at 71.5US before slightly rising late Thursday to 71.68US.

The first day saw a strong start to sales with prices easing back on Thursday of 20-30 cents.

Eastern Market Indicator dipped two cents to finish at 2,088c/kg.

The north and south regions seemed to have opposite price variations with the south seeing a drop of eight cents to their indicator with the north seeing an increase of eight cents to theirs.

Read previous wool reports:

The northern 17-micron indicator increased 21 cents finishing at 2,989c/kg, the 19-micron indicator improved 25 cents to close at 2,443c/kg and the 21-micron indicator saw a slight drop of one cent to finish at 2,285c/kg.

The northern crossbred indicators had small movements with the 26-micron indicator dropping three cents to finish at 1,486c/kg and the 28-micron indicator had a slight increase of 3 cents closing at 968c/kg.

The Merino cardings had minor movements and increased three cents to finish at 1,563c/kg.

The week also saw Shanghai host the Spin Expo where spinners gathered to show their new yarn collections for the Autumn/Winter 2019/20 season, not all wool, but plenty to be seen during the week.

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Global business has seen some increased demand recently as operators use this time of reduced Chinese activity to purchase their requirements.

Week 11 national offering is 34,582 bales, another slight increase from week 10.

Sydney will offer 10,370 bales, Melbourne will offer 18,564 bales and Fremantle will offer 5,666 bales across the two selling days.