Week 11 Wool Market Report
AWIS WOOL MARKET REVIEW
Week Ending 13 September 2019 (Week 11).
In a week that left people wondering, the AWEX EMI finished 170¢ higher (+12.5%) in Australian currency and 125¢ higher (+13.4%) in US currency at sales in Sydney, Melbourne and Fremantle this week.
The weekly changes in the EMI since the resumption of sales in August have now ranged from -122¢ two weeks ago to +170¢ this week. The EMI at 1535¢ is now 141¢ below its closing value in the first sale after the break.
The WMI moved up by 198¢ on Wednesday, but that included a catch-up component for the previous week, when market moved up on Thursday and Fremantle did not sell on that day
19,193 bales were on offer nationally, compared with 21,694 bales last sale. 5.2% of the offering was passed in after 20.7% of the initial offering was passed in prior to sale.
AWEX reports that the value of the wool sold was $30.7 million ($1,688 per bale), taking the season total to $325.8 million ($1,719 per bale).
The New Zealand Merino Company also offered 2,646 bales in Melbourne on Thursday, of which 13.2% were passed in.