Week 52 Wool Market Review
Week Ending 26 June 2020 (Week 52)
The AWEX EMI finished at 1110¢, 29¢ lower (-2.5%) in Australian currency and 13¢ lower (-1.7%) in US currency in the last sales of the season in Sydney, Melbourne and Fremantle in Week 52.
It has been a very tumultuous season as the global impact of Covid-19 has affected all sectors from grower to processor and retailer. The impact continues to be seen, with further downward movements in this week’s market.
28,029 bales were on offer nationally, compared with 15,800 bales last sale. 11.5% of the offering was passed in after 6.8% of the potential offering was withdrawn prior to sale, leaving 24,804 bales as sold. It was the lowest Withdrawn Rate since mid-March.
AWEX reports that the value of the wool sold was $31.7 million ($1,278 per bale), taking the season total to $1.948 billion ($1,616 per bale). The number of bales sold at auction this season is now 18.8% less than in 2018/19. 12.4% fewer bales were offered over the season.
The closing EMI of 1110¢ was down by 605¢ (-35.3%) from Week 52 last season, while the total Sale Proceeds of $1.948 billion were $1.227 billion (-38.6%) less than in the previous season.
Looking at the changes since the start of the season, the falls were least at the fine end, where the AWEX average 16.5 MPG is down by 21.8%. The falls progressively increased to -40.9% at 21 microns.