AWEX EMI drops after large offering

21 Nov, 2014 06:16 AM
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There was a bright moment at Fremantle's one-day sale, which gained 15 cents

THE second-largest sale of 2014, with 48,000 bales offered, saw The Australian Wool Exchange Eastern Market Indicator (AWEX EMI) close three cents lower on the previous week, at 1047c.

"Results at the wool auctions were mixed," AWEX senior market analyst Lionel Plunkett said, "with Sydney unchanged and Melbourne five to 10 cents lower against a large offering."

There was a bright moment at Fremantle's one-day sale, which gained 15 cents, but this was tempered by the previous week's lesser result.

An increase in volumes for low mid-break types did not dampen enthusiastic premiums for better-spec types.

"Numbers for these types have been at historical lows but increased this sale, assisted by good representation in Launceston and New Zealand catalogues out of Melbourne," Mr Plunkett said.

Broader 20/21-micron Merino skirtings saw small increases, and the largest offering of crossbreds in nine months also attracted buyer interest, with prices lifting a little.

"The broader range received the most support, firming by a few cents," Mr Plunkett said.

"Once again, the carding sector remained reasonably steady during the week, and the carding indicators posted varied results depending on the region."

FarmOnline

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Recognise but gouge them (the growers) and maximise returns to shareholders! If growers fall
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All Labours fault. Yet water buy backs closed over subscribed. Surly the point of this story
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We have been through this before. Whole of life tracability is a nonsense based on fantasy.