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Wool market closes 18c up

14 Jun, 2013 04:00 AM
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THE wool market is showing no signs of cooling down with the Eastern Market Indicator (EMI) closing 18 cents a kilogram ahead at 1070c/kg.

This comes on the back of the 20c/kg gain the EMI experienced the week prior.

According the Australian Wool Exchange (AWEX) the bale offering of 31,547 was the smallest three-centre offering in two years (it was the second smallest for the season, beaten only by last week when only the two eastern states markets operated).

Only 5.3 per cent of the offering was passed in, up 2.4pc on the previous weeks pass in rate.

The indicator at Sydney gained 24c/kg for the week to close at 1086c/kg.

All micron indicators (MI) ranging from the 16.5 MI to the 22 MI gained 20/ckg or greater.

Notable the 17 MI gained 38c/kg to close at 1347c/kg, while the 18 and 18.5 MI each gained 28c/kg to finish at 124c/kg and 1222 respectively.

Crossbred also fared well at Sydney with the 26 and 28 MI's each lifting 22c/kg to close at 850c/kg and 663c/kg respectively.

Merino cardings gained 26c/kg to close at 812c/kg.

The gains made at the Melbourne sale were less impressive - yet were nonetheless still gains.

The 22 and 23 MIs fared the best up 25c/kg (to close at 1198c/kg) and 28c/kg (to close at 1196c/kg) respectively.

Medium wools were highly sought after in the west with MIs in the 20 to 23 range gaining upwards of 45c/kg.

The 20 MI closed at 1177c/kg after jumping 45c/kg; the 21 MI gained 48c/kg to close at 1176 and the biggest gain was made the 22 MI which lifted 51c/kg to close at 1167c/kg.

AWEX senior market analyst, Lionel Plunkett, noted the Merino Carding Indicators were currently at two-year highs; further gains of 30c/kg will have them at record levels.

He said locks were highly sought after and gained an extra 20c/kg to 30c/kg by the end of the week.

The main buyer of Merino fleeces this week was Techwool Trading who bought 13.9pc of the offering (2373 bales); Fox and Lillie secured 17.3pc of the crossbred offering (803 bales); Modiano dominated the Merino skirting job taking 16pc (717 bales); while Michell were active on oddments taking 26.4pc of the offering (947 bales).

AWEX anticipates 24,888 bales will be offered next week and 35,714 the following week.

FarmOnline

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Good and after all the highly regulated labor supply chain and middlemen costs and other fees
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Can i get a Chinese shearing team working for their money ?So if O.S protection is a subsidy to
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You get the feeling that a whole lot of foreign investors in that part of the world, the great