For the 2^nd week in a row the wool market struggled to move in any direction as the AWEX EMI lost just 3 cents to 1522. The local movements were a mirror image of the previous series as Sydney edged forward by 3 cents and Melbourne gave up 7 cents. Some might say a disappointing sale given the quality and style of the selection in Sydney and the almost 2 cent depreciation in the FRX to just above 78 cents. This shift in the A$ saw a 30 cent fall in US$ terms to 1190. Movements were small as most microns were in sellers’ favour to 10 cents better (bar 21s back by 8 cents) but with the superior types in Sydney came some healthy premiums. Some cracking super-fine types we offered from Merriwa and Mudgee looked to be 100 to 200 cents above their indicators with some low mid-break types also selling well above expectations.

Skirtings took until the final day of selling to edge their nose in front. After conceding up to 20 cents early in the series, a reversal in fortunes saw most types and descriptions finish about 10 cents to the good. Cardings rose for the 4^th sale in a row as the 2 East Coast centres averaged a 25 cent jump while all types added 15 to 35 cents to their previous levels. It was a different story for the XB sector as it suffered losses for the 3^rd sale in a row. 26, 28 and 32 microns fell by 10/15 cents while 30s lost 30 cents.

More to come out of the Nanjing Wool Market was the announcement of 2 E-commerce platforms for all things wool in China with one already operating and includes functions of providing finance and logistics. A common theme from the conference was the need for further industry programs within the education, promotion and innovation fields as most attendees thought the current high prices can be maintained by innovating new products as double faced and fake fur products have created more demand.

A final remainder that you only have until next Friday to become a shareholder of AWI if you aren’t already one. Almost half of wool levy payers have not registered to be a shareholder. Macwool will offer 710 bales next Wednesday.