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Australian Wool Market "Cautious"

10 March 2015

AUSTRALIA – Wool markets ran “cautiously” in Australia lasts week amid slow take up from China after the Chinese New Year.

Wool market analysts at Australia Wool Innovation (AWI) say little was gained from smaller offerings and a weaker Australian dollar.

Demand may “kick the market along” over the coming months as the markets head into a seasonal low volume period, says the AWI in its weekly wool update.

Financial restraints have restricted some normal activities, said the AWI, adding that US dollar strength relative to Australia did little to change the market.

They are still waiting on China to fully return after its New Year break.

The report said: “A much smaller offering of the better, stylish wools of good strength in the super fine (18.5 micron and finer) Merino fleece were put up for sale and prices showed no reaction at all and remained unchanged throughout.

“The average and inferior top making descriptions sold well early in the week, but showed some weakening on the final day, particularly the lots showing high CvH (coefficient of variation hauteur) and high PoBM (position of break in the middle) test readings and also the over long (>100mm greasy staple length) lots.”

Slightly over 45,000 bales are expected next week.

TheSheepSite News Desk

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