The unprecedented rise of the Australian Wool Market has continued in Week 47. 30,053 bales were put before the trade this week and despite the offering again consisting of many lower yielding, lesser style wools, the market continued its bullish trend, as buyers continued their aggressive approach, perhaps due to concern over upcoming supply. Merino wools received strong support with all types and descriptions posting solid gains. 17.0 micron all the way through to 22.0 micron, generally sold at levels 40-80 cents above those achieved at the previous sale.

The NRI was already sitting at an all-time high, after considerable rises over the previous few sales, this week it added a further 38 cents, pushing it to a new record of 2033 cents. The NRI has now added an impressive 453 cents Y.O.Y, an increase of 29%, while it has gained 54% or 712 cents on the past 2 years. Another point worth noting, the Individual Micron Price Guides (MPG) for 17.5 all the way through to 22.0 micron, are all sitting at previously unseen levels.

Source: AWEX

On the back of supply concerns, the Wool market rose for the third consecutive week despite the selection consisting of a large number of poorer style wools.

On the first day of selling aggressive buying pushed prices higher and as a result the NRI rose by 23 cents, finishing the day at 1,908 cents (one cent off the previous record set in February). On the second day of selling, buyers became more selective in their merino purchases, pushing prices for that sector down, however the NRI still managed a 4-cent rise, due to the steep rise in the crossbred sector.

The skirtings market managed rises of 20-40 cents, low VM lots and those with favourable AM results recorded the largest gains. The crossbred sector also continued its upward trend, posting its fourth consecutive weekly increase, with significant gains pushing some MPG’s into record territory.

The oddment market rose for the fifth consecutive trading week. All types and descriptions generally sold at levels 5-10 cents above those achieved at the previous sale.

Source:AWEX

Aussie farmers struggling to keep on top of pests and weeds will have access to a wider range of chemicals thanks to a $1.78 million Coalition Government investment. Minister for Agriculture and Water Resources David Littleproud said the third round of the Agvet Chemicals Grants Program would deliver 26 grants to address a range of priority uses.

“We need to give farmers the tools to stay ahead of the game and do what they do best, farm,” the Minister said. “This round will unlock access to a range of chemicals which include applications for fodder beets in the dairy industry, mushrooms, green tea, quinoa and papaya.”

“These include Targo to manage mites in cocoa crops, Sero-X to manage mirids in lucerne crops, Vivado to manage cobwebs in mushrooms and Amistar to manage leaf blight in sweet corn.”

“The previous two rounds of the program awarded 100 grants to RDC applicants totalling $4.11 million, and have already resulted in improved chemical access.”

“This includes an effective treatment of annual rye grass in chickpeas, lupins and peas, a fungicide to prevent root rot in tomatoes and a growth regulator for use in our mango industry.”

For more information, visit agriculture.gov.au/ag-farm-food/ag-vetchemicals/improved-accessagvetchemicals/agvetassistance-grants.

Prices across the entire merino spectrum suffered corrections, with reductions of 20- 30 cents common for the week. The main exception was 22.0 micron which managed small increases as well as the superfine end which continued to be erratic on a limited offering. By the end of the sale the Northern Region Indicator had shed 15 cents to close the week at 1,837 cents.

Although all types and descriptions lost ground, it was lots possessing high midbreaks that suffered the greatest reductions, while those with low midbreaks recorded very little change.

The skirting market performed slightly better with prices generally reduced by 10-20 cents (wools containing less than 3.0% vm and those with excellent AM results were least affected). The crossbred & oddment markets bucked the trend with rises of 10- 30 cents common.

No sales will be held next week due to the annual Easter recess. Sales resume in Week 41 with a current forecast of 48,809 bales rostered.

Source:AWEX

Last week saw lots with unfavourable test results struggling to find support. High midbreaks fleece became almost unquotable, while low mid-breaks attracted intense competition and remained generally unchanged. 18.0 to 20.0 micron were the hardest hit, with prices generally 30 to 80 cents cheaper, leaving the NRI to close 56 cents lower at 1845. Worth noting was the stylish selection of fine fleece (<17 micron) which managed increases of 5 to 15 cents.

The magnitude of the correction in the skirting sector was dependent on vegetable matter, with the higher vm lots being the hardest hit. The cross bred sector also suffered large corrections. Any lines that were poorly prepared lacked buyer interest and suffered heavy discounts. Prices generally fell by 40 to 80 cents, the exception being 32 micron and coarser which were only 10 to 20 cents easier.

The oddment market was the worst performer by far, with prices shedding 150 to 250 cents, making it the largest weekly fall in the Carding Indicators (since1997).

Source:AWEX

After the recent price run, this week’s market saw buyers become more selective in their purchases, leaving the NRI to close 20 cents cheaper at 1756.

The market opened solidly, selling at levels at / or above those achieved at the previous sale. However as the sale progressed, prices began to deteriorate, with the finer microns experiencing the largest corrections.

In general terms, the finer micron fell by 30‐40 cents, while the medium to broader microns retraced 15 ‐ 20 cents.
The skirting market also corrected, with prices generally shedding 20‐40 cents, with the finer microns and higher VM lots most affected. The crossbred sector retraced 20‐40 cents, with 28.0 micron and coarser suffering the largest reductions. The oddment market defied the trend and managed to maintain its upward momentum, with most types and descriptions closing 10‐20 cents dearer, while the large offering of lambs was irregular but generally 15‐30 cents dearer.

Source AWEX