Week ending: 23 June 2016
The second last sale for the season saw 22,108 bales put before the trade, making it the smallest national offering
in 4 years. The market continued on with last week’s rally and lifting the NRI by three cents. The rise came in spite of a firming AUD which increased 2.5% to finish above 75 US cents. InUSD terms the NRI was 27 cents higher.
Buying pressure continued to show in the medium and broader microns which added as much as 25 cents clean over the 2 days on the back of scarce quantity. However most of the volume was in the finer microns and these barely maintained the price levels of the previous sale. The smallest offering of Merino Skirtings in twelve months were also well supported and were generally in line with the previous week.
Crossbreds continued to trend lower, easing 5 to 10 cents this week. The merino carding indicator slipped 5-10 cents despite it being one of the smallest oddment selections on record.