Week ending: 23 March 2016
Wool sales were held in a Tues-Wed pattern this week due to the looming
Good Friday public holiday. Also of note was a showcase auction held in the Northern Region with buyers and brokers temporarily relocating to the Sydney Royal Easter Show’s purposebuilt facility.
After a turnaround in sentiment last week, the market continued its rebound
at this sale. Tuesday’s sale started off reasonably tentative with prices up by 5cents in Melbourne, however Sydney and Fremantle gave a more optimistic signal when they finished as much as 15cents dearer. The final day, followed suit and another 10 to 20cents was added to valuations. The 12cent rise in the AWEX-EMI was largely a result of the renewed support in the Merino Fleece sector with competition for the other catalogues less enthusiastic.
The next wool sales will be held after the annual one-week Easter recess and will include a showcase auction at the IWTO conference in the Sydney
CBD.