MARKET COMMENTARY SALE WEEK 31

WEEK ENDING 30TH JANUARY 2020

 

Significant reductions in price from the opening of sales for the for the Australian wool market this week affected by global health concerns. Travel restrictions in many Countries have kept staff absent from Chinese textile operations, halting production and dampening buyer confidence.

All Merino and Crossbred combing types took a hit, mainly at the finer end where the largest losses were suffered. The carding types of under say, 23 microns and finer remained firm. unchanged/firm.

The EMI finished the week at 1548. 28 cents lower than last week.

The total bales offered Nationally this week began at 39,370 bales. 5,670 (14.4%) were withdrawn prior to sale reducing the offering to 33,700. 28.82% were passed in.

Next week in sale 32, the National auction offering is sitting at 35,849 bales.

So far this Financial year, the Australian wool offering is sitting at 13.0% less than this time last year.

The AUD/US exchange rate was sitting favourably at 67.39 cents at the close of wool sales.

Next week in Sale 32, the general consensus throughout the trade – Would want to speculate as this market could go either way.

Please be in touch with any of our regional Managers for any of your wool market queries.

 

Regards,

 

Adrian.