February 24th 2022

After two weeks of small losses the Australian wool market has
recorded an overall increase this week, albeit by the smallest
of margins. Originally the scheduled offering was to be 50,142
bales, by the end of the series the actual amount offered was
46,338 bales, due in part to the 3.6% of wool withdrawn prior
to sale. The strongest buyer focus was centred on good style,
low vm (less than 1.0% vegetable matter) wools, particularly
those possessing favourable length and strength results.
General overall increases in these wools was a driving factor in
the overall positive movement in the market. Lesser style,
higher vegetable matter lots and wools with poor additional
measurements results were highly irregular, but generally
easier. These wools accounted for many of the 13.0% of wools
that were passed in. Buyer demand for specialty Non-Mulesed
types was again extreme for this series, intense bidding on
these wools helped them to obtain premiums of upwards of
200 cents, when compared to similar Mulesed lots. The overall
market movements across the week were minimal, this was
reflected in the AWEX Eastern Market Indicator (EMI) which lost
one cent on the first selling day, gained two on the second,
then remained unchanged on the final day (In which only
Melbourne was in operation). The end result of these
movements was a one cent increases in the EMI, which closed
at 1,421 cents. This week four separate lines of HILLCRESTON /
BIGGA attained 1PP certification. 1PP certificates are issued to
a select group of superfine wools annually that exhibit
superlative quality, style and soundness and are prepared in
the best possible manner. The approval criteria for 1PP
certification is stringent and is carried out by a panel made up
of industry participants with exceptional knowledge and
experience in the area of superfine wools.

 

Regards,

 

Adrian.