Wool market remains steady after two larger offerings

Kristen Frost
By Kristen Frost
January 21 2022 - 7:00am
LOOKING UP: Two weeks into the calendar year and things are looking up for the wool market as EMI holds steady with larger offering.

Solid increases in finer Merino fleece prices continue to keep the Australian wool market tracking stronger in 2022.

For the second sale after the scheduled Christmas recess, the national offering increased by 2517 bales to 46,256 and managed to record another overall rise.

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The AWEX Eastern Market Indicator (EMI) experienced a three cent gain to close at 1392 cents per kilogram, clean.

But although the gain looked like only a minor adjustment to the market, according to reports, large price movements across type sectors were a feature in this week's sales.

A lot of the action took place around the good style 18-micron fleeces attracting strong buyer attention.

The market saw keen competition on fine, stylish Merino fleece and skirtings with superfine Merino fleece being the star in Sydney gaining 67cents.

Super fine Merino wools finer than 15.4 micron were 40 to 10c dearer, 17.5 to 18.5 microns made a 10c increase while all types broader than 19 micron drop 10 to 20c.

Prices were especially softer on the broader end of the Merino market in Melbourne and Fremantle with 19 micron and coarser waning between 5 and 19c.

The Western Market Indicator retreated three cents to finish the week at 1436c/kg, with WA selling 8536 bales of the 9641 offered.

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The skirtings followed a very similar path to the fleeces, with wools 18.5 micron and finer recorded general increases of between 20 and 30c, whilst the broader types barely maintained their previous levels or were slightly cheaper.

Once again the crossbred sector was the poorest performer for the series, with general losses of between 5 and 30c helping push 26 to 32 micron fleeces down by between 5 and 28c.

Next week will see 46,490 bales offered under an unusual selling pattern.

Sales will be held on Tuesday and Thursday to accommodate the Australia Day Public Holiday on Wednesday.

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Kristen Frost

Kristen Frost

National Sheep and Wool Writer

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