Friday, January 24, 2020
Cardings defy downward trend
The impressive opening to the 2020 selling season, pronounced by three successive weeks of rises, has hit a roadhump as the Australian wool market has recorded overall losses this week. The fragility of the market was clearly evident as prices changed day to day, sometimes up and other times down. A softer tone was evident as soon as selling began, with the market settling on the final selling day as buyers found a price basis they were comfortable with.
Friday, January 17, 2020
Wool delivers volatile opening
The strong finish to 2019 wool sales provided the platform for an impressive open to the 2020 selling season. The robust demand over the Christmas break on electronic offer boards provided the entrée to spirited activity on the auction floor when sales recommenced on Tuesday.
However, the fragility of the market was reinforced on the final two days of selling. By Thursday, with only Melbourne & Fremantle in action the market had given back much of the early week gains.
Friday, December 20, 2019
It’s a joyful end to the year
The improved demand observed last week after successive falling weeks continued strongly in the last week of selling for 2019. Buyers found support from mills to bid strongly on another large offering, sending the market to the Christmas break in a positive mood.
Friday, December 13, 2019
“Spirited” bidding gives sellers an edge
The wool market is drawing close to the end of year recess and like many of us, exporters were spurred on to fill their orders to ensure they make shipping cutoffs. Demand kept slightly ahead of the increased supply, with most categories posting small increases on the week.
Friday, December 06, 2019
All downhill ‘til Christmas?
A strong offering had the typical effect on wool prices, the market sliding another step lower this week. Growers protested the downward trajectory in hordes with passed in rates hitting 20.4% to see a total 7,765 bales returning to brokers’ stores.
Friday, November 29, 2019
Wool market back to the base
Since October, we’ve seen the market oscillate from gains to losses at the turn of each week. However, this week saw the second consecutive week of declines with both the eastern and western markets ending November back near the base levels found after the period of volatility during Winter.
Friday, November 22, 2019
Market unable to sustain momentum
Grower reaction to the recent better wool market resulted in an increased offering, however, this proved too much for the market and it lost momentum this week. AWEX reported that the retracement was across the board, following the weak finish in Fremantle last week.
While the trend for the week was softer, on the final day some support was evident and Fremantle was quoted as “ending on an encouraging note”.
Friday, November 15, 2019
East and West straighten up
Fremantle's market sat at the top of the table for many individual MPG’s last week with a strong final day of sale. However, the glory was short-lived with the momentum carrying into the new week and Eastern market prices quickly moving higher. With prices wavering on the second day of sale, AWEX reported all three selling centres moved back into alignment.
Friday, November 08, 2019
As reported last week, sellers have been prepared to step out of the market when demand is weak, and this week the high pass-in rate told the story of the wool market performance.
Friday, November 01, 2019
Sellers line up
It is an unusual situation in commodity markets where the seller can move the market price, but a glance at the wool market over the last few months shows growers either selling aggressively on market rallies, or holding back on soft markets.