Week 10 Wool Market Review

Week Ending 4 September 2020 (Week 10)
The AWEX EMI finished at 858¢, 71¢ lower (-7.6%) in Australian currency and 37¢ lower (-5.5%) in US currency at sales in Sydney, Melbourne and Fremantle in Week 10.
27,155 bales were on offer nationally, compared with 20,488 bales last sale. Sellers responded to the fall by passing in 20.6% of the offering, after 11.0% of the potential offering was withdrawn prior to sale. 21,549 bales were sold.
AWEX reports that the value of the wool sold was $22.0 million ($1,021 per bale), taking the season total to $211.9 million ($1,174 per bale). The number of bales sold at auction this season is now 6.8% greater than in 2019/20. The positive difference is associated with lower progressive rates for the number of bales withdrawn before sale and for those passed-in.
The New Zealand Merino Company also offered 1,844 bales in Melbourne on Wednesday, of which 34.1% were passed in.

AWIS Newsletter for week ending 4 September 2020

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