Wool continues climb into record territory

Wool continues climb into record territory


Sheep
Tony and Josie Butler, Newstead, Vic, selling 72 bales at the Melbourne wool store recently.

Tony and Josie Butler, Newstead, Vic, selling 72 bales at the Melbourne wool store recently.

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PRICES continue to float in record territory as the unquenchable appetite for superfine wool forces the Australian Wool Exchange’s Eastern Market Indicator (EMI) to 1440 cents a kilogram, 12 per cent higher than year-ago levels.

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PRICES continue to float in record territory as the unquenchable appetite for superfine wool forces the Australian Wool Exchange’s Eastern Market Indicator (EMI) to 1440 cents a kilogram, 12 per cent higher than year-ago levels.

The 40000 bale national offering eclipsed the record set in January by 1c/kg, which previously broke the former 1425c/kg price peak set in 2012.

Driven by buyers’ thirst for superfine wools, 18 micron and finer range lead the charge resulting in a 10 to 30c/kg jump on last week.

AWEX senior market analyst Lionel Plunkett said with no major rises or falls, this week’s market was one of consolidation.

Mr Plunkett reported 18.5-19.5m range as “fully firm”, while a large selection of 20m and coarser eased slightly to finish the week 10-20c/kg off last week’s levels.

“Buyers continue to favour the high strength (nkt) and low coefficient of variation of hauteur which continue to attract healthy premiums compared to similar wools with less attractive test results,” he said.

“The skirting market struggled slightly this week to maintain its previous levels, generally falling 10 to 20 cents with the finer better style types least affected.

“The crossbred sector continued its move back into positive territory this time with rises of between 10 and 20 cents with 28.0 micron most affected.”

Buyers favoured the better prepared lines with properly skirted wools enjoying the largest price gains.

The oddment sector had a very solid week with all three carding indicators rising by an average of 11c/kg, with most types and descriptions receiving small rises.

The dwindling selection of lambs wool continue to attract very strong buyer interest and were extreme.

Next week sales resume in Sydney, Melbourne and Fremantle with currently nearly 47,000 bales rostered for sale.​

The story Wool continues climb into record territory first appeared on Farm Online.

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