Wool report: week 22 of sales sees the wool market remain firm

Photo: File.
Photo: File.

Week Commencing 3/12/18

Week 22 saw the wool market remain firm with the Eastern Market Indicator making a small increase of two cents to finish at 1,860c/kg.

There was a national offering of 34,513 bales for the week which is down 18 per cent comparative to the corresponding sale last year.

The market more than likely tried to come back during 22 after week 21’s larger increases however with a continued supply squeeze this was difficult to achieve however good types are still remaining dearer.

READ PREVIOUS WOOL REPORTS HERE:

The northern 17-micron indicator increased 15 cents and finished the week at 2,487c/kg, the 19-micron indicator decreased 16 cents closing at 2,188c/kg and the 21-micron indicator dropped 29 cents to finish at 2,129c/kg.

Crossbreds had an impressive week due to a large fake fur order however this most likely has been near filled and there is an expected decrease in demand to come.

The crossbred indicators had slight increases across the three centres.

ALSO MAKING NEWS:

The 26-micron indicator increased 90 cents to finish the week at 1,335c/kg.

The merino cardings made an increase this week of 19 cents to finish at 1,199c/kg for the north.

Nearly all combing mills are busy at the moment and sold out until March, so there is expected there will be no big drop anytime soon however the Chinese industry is looking for a confidence booster.

Week 23 has 39,510 bales on offer and is the second last sale before the Christmas recess.

Sydney will offer 9,728 bales, Melbourne will offer 20,672 bales and Fremantle will offer 9,110 bales across the two selling days.