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Beyond the Bale : June 2017
All Wool 19um 26um 28um 30um 32um 0 200 400 600 800 1000 1200 1400 1600 1800 2000 July 2002 July 2003 July 2004 July 2005 July 2006 July 2007 July 2008 July 2009 July 2010 July 2011 July 2012 July 2013 July 2014 July 2015 July 2016 May 2017 IGENCE REPORT MERINO SEGMENT CONTINUES ITS HISTORIC RISE The Ultrafine market has seen prices continue to increase, however now at a steadier rate than has been seen over the past two years. AWEX indicates that the monthly average of wools of <16.5 microns sits at around 2,384 au c/kg. Although almost 810 c/kg higher than one year ago, prices have been steady since February and increasing at a more sustainable rate for exporters. AWTA test data shows that these wools represent 3.7% of the wool tested in the 2016/17 season. Wools of 19 micron and finer have followed suit over the past four months as prices have become more consistent. Superfine demand is at record levels, and is reflected in the prices reached in the sale rooms over the past year. Next to skin garments have been In this edition of Beyond the Bale we look at the current market situation as the Merino segment continues its rise while the crossbred market has seen a drop off in demand which sees it back at average historic prices. a large contributor to this as the demand for this type of product by consumers is having an effect right through the pipeline. Year on year, 17 and 18 micron wools are both up more than 800 c/kg while 19 microns are 500 c/kg in front. These wools account for 37.8% of the wool tested by AWTA during the current season. In the medium wools, demand has seen a less exaggerated rise over the past season, however they still continue to climb nevertheless. The monthly average price of 20 micron wools has climbed 200 c/kg over a one- year period, while 21 micron wools have seen a 130 c/kg rise and 22 micron a rise of around 80c/kg in the same period. Notably, AWTA has tested 12.3% (20 micron), 21.1% (21 micron) and 23.4% (22 micron) more wool of these types throughout this season compared to last. The crossbred sector has seemingly backed off over the past months as the hangover from high demand for the double-faced fabric in China lingers. This fabric saw a quick increase in demand for broad wools throughout 2015 where demand in China pushed the price of 26 micron wools to more than 1,000 c/kg and 28 micron wools to more than 900 c/kg. Demand for the fabric has since retreated and many Chinese mills are well stocked with a healthy supply of broad wool from across the world. This has seen crossbred wool prices come back to levels, which historically, are very much on par with broad wool returns. 15 YEAR WOOL PRICE COMPARISON MARKET INTELLIGENCE 57
In the Shops - September 2017