AWIS WOOL MARKET REVIEW
Week Ending 2 July 2021 (Week 53)
The Market ended its run of six weeks of successive rises when the AWEX EMI finished at 1423¢, 45¢ lower (-3.1%) in Australian currency and 38¢ lower (-3.4%) in US currency at sales in Sydney, Melbourne and Fremantle in Week 53.
Much of the fall was attributed to an increase in the expected size of the offering in Week 01 of next season to 54,900 bales.
42,847 bales were on offer nationally, compared with 33,330 bales last sale. There was strong Seller resistance to the fall in the market when 21.6% of the offering was passed-in after 3.3% of the potential offering had been withdrawn prior to sale. 33,582 bales were sold, 1,900 more than in Week 52.
AWEX reports that the value of the wool sold was $57.7 million ($1,718 per bale), taking the season total to $2.219 billion ($1,417 per bale). The number of bales sold at auction this season was 29.3% greater than in 2019/20.
