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 Latest wool offering modest: AWEX 

Latest wool offering modest: AWEX

04 Feb, 2012 03:00 AM
IT WAS a reasonably small offering this week (for this time of the year) with just over 37,000 bales offered nationally over two selling days.

The market opened the week on a fairly steady footing with little change in the Merino fleece sector. The

exceptions were in the West where prices fell 10 cents, and some of the Superfine types in the Eastern markets which were up to 50 cents dearer.

Thursday opened the day in a similar fashion but

drifted 10 cents lower over the course of the day on the back of a stronger AUD which hit a five-month high. The very fine edge moved against the trend and found continued support, adding another 10 to 20 cents.

The volumes in the Superfine sector have been reasonably limited lately but the combined gains of the past fortnight have provided encouraging price signals for upcoming auctions.

Brokers are reporting a larger than normal offering of

Goulbourn wool next week (week 32) while stylish superfine catalogues are expected in week 33 (Tasmanian sale L33) and week 35 (Newcastle sale N35). Merino Skirtings attracted good support over the two days, particularly in Southern Region.

Fremantle and Sydney both closed in line with the previous week while Melbourne added 20 cents each day for the more stylish types. Crossbreds tracked sideways this week closing in line with the previous sale.

Oddments made only small adjustments on a week of reserved bidding.

In other news, auction sales for Week 33 to Week 36 will be rostered earlier in the sale week as part of a national trial. The purpose of the trial is to examine what costs and/or benefits would arise from trading earlier in the sale week. Sales will commence on Tuesdays in all centres for this period.

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