The AWEX EMI finished at 1530˘, 25˘ lower (-1.6%) in Australian currency and 22˘ lower (-2.1%) in US currency at sales in Sydney, Melbourne and Fremantle in Week 22.

37,804 bales were on offer nationally, compared with 35,719 bales last sale.  14.6% of the offering was passed in after 5.8% of the potential offering was withdrawn prior to sale.

AWEX reports that the value of the wool sold was $53.7 million ($1,664 per bale), taking the season total to $872.7 million ($1,742 per bale).  The number of bales sold at auction this season is now 18.2% less than in 2018/19.

The market eased again this week, with losses across all Merino and crossbred types and micron ranges.  Locks were the only types that held last week’s prices, resulting in a smaller movement in the Oddments Price Guide.  Growers reacted to the second successive week’s downward movement by passing-in a greater than average proportion of the offering.

The US Exchange Rate finished 0.34˘ (-0.5%) lower to close at 67.63˘ on Thursday.

Buyers for China were dominant, with support from buyers for India and Europe

In other countries, the South African Cape Wools Indicator was down by 0.1% since last week against a 0.2% depreciation of the Rand against the US Dollar and a 0.5% appreciation against the Euro.

Looking ahead, the sales lose their synchronisation with last year when a sale as a sale will be held in Week 25 this year, but not last year.  Offerings in sales 23 and 24 are expected to be 41,274 bales range and 37,278 bales and to be 3.6% less than in the same period last year.  The forecast progressive difference to Week 24 is -11.9%.

The size of the weekly offerings continues to move closer to the previous year's volumes.  The number of bales offered in the last four weeks was up by 8.2%, compared with a figure of -18.1% from Weeks 01 to Week 18.  AWH advise that they are very busy handling the current level of receivals.