AUSTRALIAN WEEKLY MARKET REPORT

Comment

It was another very positive week for the wool market. All types and descriptions were dearer from the start and continued. There is continued interest in European types, particularly NM and CM lines of wool. This is a good sign and helping to sustain the strength of the fine wool market. There is no doubt less fine wool available as a result of the outstanding season we’re having. Chinese interests were active on standard types, pushing them dearer as well. Shorter knitting types and cardings were also keenly sought after. Add to this, the ever increasing volume of RWS accredited wool offered by The Schneider Groups Authentico RWS Farm Group scope certificate which is now 94 farms strong, giving our brand partners a greater access to Australian and New Zealand farmers wool production.

AWEX Eastern Indicator compared with 21/01/2021

Eastern Indicator

Close: 1449

Change in % +3.0

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

Authentico Index Values

15 Micron

Close: 3790

Change in %: -0.80

16 Micron

Close: 3225

Change in %: +1.25

17 Micron

Close: 2850

Change in %: +2.90

18 Micron

Close: 2405

Change in %: +3.40

19 Micron

Close: 1950

Change in %:  +2.25

Authentico Indicator

Close: 2799

Change in %: +2.50

Forecast

Despite exporters still having some difficulties with shipping schedules, delays at the wool dumps (packers) and slow opening of finance lines as a result, the market continues to edge higher. Competition was widespread this week, probably more so than in recent weeks. This is an encouraging sign for the market. Vegetable matter will almost certainly start to increase from March onwards so the availability of better fleece wool with 1.0 VM will be more limited as we move towards July. We are on the cusp of the final volumes of very high quality fine wool being offered in the coming weeks taking advantage of the recent spike in prices driven by good demand from Europe, China, Japan, and India will surely attract keen competition as exporters secure volume.

Auction offering – current week

Market          Sale         Offered        Sold       Passed In

North                      S 31                 9101                  8741                     4%

South                     M 31                21724                  20085                 7.5%

West                       F 31                 9666                  8889                   8.0%

Auction offering – next week

Market          Sale          Sale days     Volume

North                      S 32                     W / T                     13313

South                     M 32                    W / T                     22679

West                       F 32                     W / T                      12282

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