Wool Report - 10/12/18:Merinos make gains across most microns

Photo: File.
Photo: File.

Week Commencing 10/12/18

Week 23 saw a slight drop of 11 cents to the Eastern Market Indicator, finishing the week at 1,849c/kg.

There was a national offering of 38,315 bales and a pass rate of 10.3 per cent.

The merinos made gains across most microns with some gaps seen with inferior type wools.

The northern 17-micron indicator increased 26 cents to finish at 2,513c/kg, the 19-micron indicator increased 30 cents finishing at 2,218c/kg and the 21-micron indicator remained unchanged for the north closing at 2,129c/kg. 

The week started off firm for crossbreds however this quickly changed as orders were filled and the crossbred sector experienced large losses.

READ MORE WOOL REPORTS:

The northern 26-micron indicator decreased 130 cents finishing at 1,205c/kg.

The merino cardings had a slight decrease in all national centres with the northern indicator dropping 16 cents to finish the week at 1,183c/kg.

The greasy farm bales received this year are 22 per cent down on last in volume and there is uncertainty around supply for 2019.

The east has reflected drought conditions since august this season with a decrease in supply which is expected to continue to fall into 2019.

The average merino micron is currently 18.5 which is the finest on record to date.

ALSO MAKING NEWS:

Prem wool supply is rising with 50-69mm wools making up 20 per cent of the November merino fleece and this is expected to rise to 30 per cent in 2019.

As a result, there are higher discounts expected for wools measuring under 60mm.

The outlook for the wool market remains positive and even with supply constraints it is expected this will work to keep the current prices relatively stable.

Week 24 will be the last sale before the three-week Christmas recess with sales set to resume the second week of January.

The last sale has a national offering of 48,777 bales with Sydney offering 13,072 bales, Melbourne offering 27,146 bales and Fremantle offering 8,559 bales across the two selling days.