AUSTRALIAN WEEKLY MARKET REPORT

Comment

There was little change in the market again this week. The market seems almost in a holding pattern awaiting the next significant move. Best fine wool prices are a little less extreme but in general the market closed around similar levels to those of last week. Next week’s Sydney sale is a designated superfine sale and we tend to get more of the finer hogget’s coming onto market from now through to November.

The crossbred market remains in a poor state with the 28.0 and 30.0 micron AWEX MPG’s at the lowest point now for the past five years.

AWEX Eastern Indicator compared with 08/10/2021

Eastern Indicator

Close: 1323

Change in % -1.19

If you want to learn more about AWEX indicators, visit the official website http://www.awex.com.au

Authentico Index Values

15 Micron

Close: 3756

Change in %:  -4.13

16 Micron

Close: 3088

Change in %: -1.08

17 Micron

Close: 2743

Change in %: -1.29

18 Micron

Close: 2299

Change in %: -1.45

19 Micron

Close: 1852

Change in %: -0.16

Authentico Indicator

Close: 2691

Change in %: -1.61

Forecast

No doubt many are watching the AWEX EMI in both AUD and USD. Since mid-August there seems to be a low point that gains more trading support. It’s almost a ‘buy in’ level. Since then, the EMI has moved upwards from around the current level (1320/1330) but not below. In USD the trade range has been narrower and sitting constantly around 970 where it is sitting today. Customers are following this and seem reluctant to buy when in an upward trend, but more confident to buy when around today’s level. The usual late October spike could well yet happen but external factors this season do appear a little different. Perhaps the risk that it will occur is keeping client interest around these levels in fear of perhaps missing out.

Auction offering – current week

Market          Sale         Offered        Sold       Passed In

North                      S 15                   10871                  9468                12.9%

South                     M 15                   22108                19358               12.4%

West                       F 15                     7072                   5672                19.8%

Auction offering – next week

Market          Sale          Sale days     Volume

North                      S 16                      T / W                    10694

South                      M 16                     T / W                   21022

West                        F 16                      T / W                    6309

If you want to see the complete Wool Sales Roster click here.