Week 16 Wool Market Review
Week Ending 16 October 2020 (Week 16)
The AWEX EMI finished 95¢ higher (+9.3%) in Australian currency and 73¢ higher (+10.0%) in US currency at sales in Sydney, Melbourne and Fremantle in Week 16. The EMI has now moved up by 259¢ since Week 10
27,680 bales were on offer nationally, compared with 28,346 bales last sale. Sellers responded with a Pass-In rate of 2.4% (the lowest of the season), after withdrawing 5.3% of the potential offering prior to sale. The value of 5.3% was the lowest since the second sale of the season. 27,023 bales were sold.
AWEX reports that the value of the wool sold was $36.4 million ($1,347 per bale), taking the season total to $385.9 million ($1,165 per bale). The number of bales sold at auction this season is now 4.3% greater than in 2019/20.
The New Zealand Merino Company also offered 1,562 bales in Melbourne on Wednesday, of which 2.6% were passed in.