Only 19,072 bales were offered this week, however the lower volume did little to stem the bloodshed. From the opening hammer, it was immediately apparent that buyer confidence was very low. Prices across all microns were generally discounted by 20-40 cents, then slowly but noticeably deteriorated as the day progressed. By the end of the day most types and descriptions were
selling at levels 40-60 cents lower and as a result the NRI lost 50 cents.
The second day saw further easing, but not to the same extent as day one. Some broader MPGs in the Southern region managed small increases as the market found a level.
Despite a more positive tone, the NRI lost a further 3 cents, closing the week at 1,789 (an overall loss of 53 cents). The oddment market had an up and down week, losing 20-30 cents on the first selling day, then recovering 5-10 cents on the second day.
30,872 bales are currently rostered for the final sale of the season.
Source: AWEX