Wool market falls in a shorter week
- By: "Farm Tender" News
- Ag Tech News
- Jan 25, 2018
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By Mark Dyson - Quality Wool
A shorter sale week due to public holidays and a reduced offering to just over 43,000 bales meant only two days of selling this week, with the Eastern Market Indicator falling by 57 cents clean to finish at 1744 cents per kilogram clean.
The Australian dollar trading around US80 cents resulted in a more subdued market this week, with a general easing trend on Tuesday’s sale opening.
The irregular trading resulted in most Merino and crossbred types easing 5-23 cents clean, with the 21-22 micron range bucking the trend to increase 15-20 cents clean.
Following on from last week, the trade continued to be selective on type, with poorer measured wools and high VM lots under pressure.
The carding sector continued its fall as locks, crutchings and stains all decreased by 80-100 cents clean by the end of the first day’s selling.
The second day’s selling resulted in a further downturn as the 18-23 micron range lost 19-55 cents clean, with the finer 16-17 micron range faring better to finish near unchanged on the previous week.
Skirtings followed suit to decrease as much as 75 cents clean for the week, with lots higher than four per cent VM mostly affected.
The crossbred types eased in similar fashion with the 25-32 micron range falling 22–75 cents clean for the week, the 26-28 micron range fairing worst.
The last day’s trade saw the carding types crash a further 120-200c/kg clean, the high VM types again mostly affected.
By week’s end, the Merino carding indicator had fallen a massive 230 cents clean for the week to finally find ground at 1271c/kg clean.
As to be expected, passed in rates were extreme compared to recent months, with the crossbred and carding sectors reported to be as high as 14-25 per cent as producers grappled with the decline in values.
Sales continue across all three selling centres next week with an expected national offering of 43,000 bales.
http://www.qualitywool.com/
A shorter sale week due to public holidays and a reduced offering to just over 43,000 bales meant only two days of selling this week, with the Eastern Market Indicator falling by 57 cents clean to finish at 1744 cents per kilogram clean.
The Australian dollar trading around US80 cents resulted in a more subdued market this week, with a general easing trend on Tuesday’s sale opening.
The irregular trading resulted in most Merino and crossbred types easing 5-23 cents clean, with the 21-22 micron range bucking the trend to increase 15-20 cents clean.
Following on from last week, the trade continued to be selective on type, with poorer measured wools and high VM lots under pressure.
The carding sector continued its fall as locks, crutchings and stains all decreased by 80-100 cents clean by the end of the first day’s selling.
The second day’s selling resulted in a further downturn as the 18-23 micron range lost 19-55 cents clean, with the finer 16-17 micron range faring better to finish near unchanged on the previous week.
Skirtings followed suit to decrease as much as 75 cents clean for the week, with lots higher than four per cent VM mostly affected.
The crossbred types eased in similar fashion with the 25-32 micron range falling 22–75 cents clean for the week, the 26-28 micron range fairing worst.
The last day’s trade saw the carding types crash a further 120-200c/kg clean, the high VM types again mostly affected.
By week’s end, the Merino carding indicator had fallen a massive 230 cents clean for the week to finally find ground at 1271c/kg clean.
As to be expected, passed in rates were extreme compared to recent months, with the crossbred and carding sectors reported to be as high as 14-25 per cent as producers grappled with the decline in values.
Sales continue across all three selling centres next week with an expected national offering of 43,000 bales.
http://www.qualitywool.com/
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