Week 14 Wool Market Review
AWIS WOOL MARKET REVIEW
Week Ending 2 October 2020 (Week 14)
The AWEX EMI finished at 996¢, 40¢ lower (-3.9%) in Australian currency and 31¢ lower (-4.2%) in US currency at sales in Sydney, Melbourne and Fremantle in Week 14. Although down, the EMI is 59¢ above the value of two weeks ago.
29,302 bales were on offer nationally, compared with 23,260 bales last sale. Sellers displayed a reluctance to sell when 18.4% of the offering was passed in after 7.3% of the potential offering was withdrawn prior to sale.
23,908 bales were sold.
AWEX reports that the value of the wool sold was $29.9 million ($1,251 per bale), taking the season total to $316.8 million ($1,151 per bale). The number of bales sold at auction this season is now 3.3% greater than in 2019/20.
The New Zealand Merino Company also offered 1,720 bales in Melbourne on Wednesday, of which 7.7% were passed in.