Week ending: 21 April 2016
Last week saw the AWEX-NRI fall 26 cents to close at 1239c/kg, its lowest price in six months, with the currency appearing to play a significant role, hitting a ten-month high at 78.26US cents midway through the sale.
The sale opened on Wednesday with fleece prices falling as much as 30 cents across most micron ranges before firming over the course of the day and then flattening out on Thursday. Merino Skirtings initially lost 20 cents before firming on the final day. Crossbreds continued to track lower, losing another 15 cents, while the Carding Indicator plunged 61 cents for the week.
The lower prices resulted in 10% of the catalogue being withdrawn prior to sale, the largest rate in 2 years. National totals are set to hover around 40,000 bales for the next 2 weeks before dipping to 36,000 bales in 3 weeks time.