Quantities of Australian wool at auction are starting to show signs of waning. Just over 42,000 bales are expected to be auctioned next week. Prices are expected to remain buoyant, with bidding this week dominated by traders, rather than the market’s large Chinese indent buyers. Finer micron groups are appreciating at a faster rate than their broader cousins, causing the price differentials between microns to further widen.
Better types continue to attract good support and maintain their large premiums over lower spec types. Renewed interest in crossbred market continued this week with most types and descriptions adding a further 10 to 20 cents to the gains recorded last week and 26 to 28 micron posted the largest rises.
The oddment market also had another solid week, with 20 to 30 cent rises in locks and crutchings helping push all three carding indicators to average rises of over 15 cents. The merino fleece market appeared to change track slightly this week as buyers’ attention moved more to the broader 18.5 to 21 micron area. With superfine wools finer than 18.5 micron now 200 cents and more dearer than their broader counterparts, interest from the predominantly Chinese traders turned to what looked like a more advantageously priced type.