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.
Friday, October 25, 2019
Rising tide lifts all boats
It was a steady and solid opening to wool sales this week, which offered a welcome respite to buyers and sellers alike from the recent wild roller coaster ride for wool prices over the past month. With lifts in price across the board the pass-in rate retreated to single-digit figures.
This rising sentiment continued to the close of selling, with AWEX late on Thursday reporting Fremantle market “strengthening all the way to the final hammer.”
Friday, October 18, 2019
A little more give and take
The shaky wool market opened this week lacking power. With a decent offering, the first day of sale saw instant corrections across the board, only to show signs of a resurgence at the days' end. This momentum carried through to a stronger market on Thursday, however it wasn’t enough for the market indicators to avoid overall declines on the week.
Friday, October 11, 2019
It’s a rollicking ride for wool
It concerns me that we are starting to get accustomed to the “roller-coaster” ride that has become the wool market. The wild fluctuations are causing sellers a headache, deciding whether to sell, pass lots in, withdraw or wait.
We can only guess what this is doing to the exporters and processors, as they manage supply requirements alongside the unpredictable price movements of recent months. It is hard to imagine anyone is pleased with the recent volatility and it must be damaging the wool markets reputation internationally.