Wool support starts to wanes

SOME of the heat in the wool market may be starting to dissipate as prices slipped at auctions on Thursday. 

Although still at sky high levels, the Eastern Market Indicator finished Thursday’s trading at 1801 cents a kilogram. 

That’s about 17c/kg softer than at the same time last week. 

In Sydney all but the very fine wools were in the red, recording falls of 10c/kg to 20c/kg.

Some medium-micron wools were as much as 35c/kg cheaper.

Overall, the Northern Market Indicator dipped 7c/kg in the past week to 1901c/kg. 

Australian Wool Exchange market information manager Lionel Plunkett said fine microns maintained support for the better style and strength lots in Sydney.

But, he said buyers were reluctant bidders on the lower spec wools.

The 17-micron wool managed to go against the cheaper trend and climb another 40c/kg in the past week. 

For the Sydney auction, the 17-micron wool indicator was on 2672c/kg.

The 16.5-micron wool hit 2787c/kg, which was another 14c/kg dearer than last week’s auction.

Southern sales followed a similar trend to the north – the Southern Market Indicator slipped 22c/kg to finish Thursday on 1739c/kg.

Like the north, fine clips were still dearer in Melbourne, while medium and broad wool was cheaper.

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