Week 34 Wool Market Review
AWIS WOOL MARKET REVIEW
Week Ending 21 February 2020 (Week 34)
The AWEX EMI finished 13¢ higher (+0.8%) in Australian currency and 3¢ lower (-0.3%) in US currency at sales in Sydney, Melbourne and Fremantle in Week 34.
The fall in the $A helped. However, it was a good week for the wool market at a time of ongoing uncertainty.
39,018 bales were on offer nationally, compared with 40,176 bales last sale. 11.3% of the offering was passed in after 7.5% of the potential offering was withdrawn prior to sale.
AWEX reports that the value of the wool sold was $61.3 million ($1,771 per bale), taking the season total to $1.386 billion ($1,710 per bale). The number of bales sold at auction this season is now 16.5% less than in 2018/19.
The New Zealand Merino Company also offered 1,873 bales in Melbourne on Tuesday, of which 10.3% were passed in.