Week 18 Wool Market Review
AWIS WOOL MARKET REVIEW
Week Ending 1 November 2019 (Week 18).
The AWEX EMI finished 49¢ higher (+3.2%) in Australian currency and 47¢ higher (+4.4%) in US currency at sales in Sydney, Melbourne and Fremantle this week. The market has withstood the strengthening US Exchange Rate to have risen by 85¢ in US currency since the beginning of October.
35,300 bales were on offer nationally, compared with 27,047 bales last sale. 5.7% of the potential offering was withdrawn prior to sale; while 6.6% was passed in. The number of bales sold at auction this season is now 23.8% less than in 2017/18.
AWEX reports that the value of the wool sold was $59.7 million ($1,811 per bale), taking the season total to $659.8 million ($1,737 per bale).
The New Zealand Merino Company also offered 2,085 bales in Melbourne on Thursday, of which 10.8% were passed in.