Week 12 Wool Market Review
AWIS WOOL MARKET REVIEW
Week Ending 18 September 2020 (Week 12)
It was a good week in which the AWEX EMI finished 47¢ higher (+5.3%) in Australian currency and 42¢ higher (+6.5%) in US currency at sales in Sydney, Melbourne and Fremantle in Week 12. It was the first week-to-week upward movement in the market since it moved up by 18¢ in Week 02.
26,215 bales were on offer nationally, compared with 19,638 bales last sale. 5.8% of the offering was passed in after 9.8% of the potential offering was withdrawn prior to sale. 24,705 bales were sold.
AWEX reports that the value of the wool sold was $26.4 million ($1,069 per bale), taking the season total to $258.1 million ($1,148 per bale). The number of bales sold at auction this season is now 4.4% greater than in 2019/20.
The New Zealand Merino Company also offered 3,196 bales in Melbourne on Wednesday, of which 7.4% were passed in.