The Schneider GroupAUSTRALIAN WEEKLY MARKET REPORT
Comment
Again, not a lot of change in the general market. Buyers are still indicating that demand is limited, yet the auction market is performing reasonably well. The selection of best fine wool is becoming less and less every week and it’s becoming difficult to compare from week to week when trying to evaluate the better types suitable for the European clients. Our indicators and those from AWEX that report on the finer microns will become a little more variable over these next few months. Despite our best intentions to compare ‘like with like’, it’s difficult in such small volume.
If anything, this week we noted more interest in the more inferior types. Traders and topmakers are trying to take advantage of any discounts while these more inferior types are in greater supply. The result was that the discount for vegetable matter and tender wool was a little less. At the other end of the market, demand for the best lots also remains strong.
AWEX Eastern Indicator compared with 24/03/2022
Eastern Indicator
Close: 1318
Change in % unchanged
Authentico Index Values
15 Micron
Close: 3673
Change in %: -4.6
16 Micron
Close: 2881
Change in %: -2.3
17 Micron
Close: 2500
Change in %: -3.4
18 Micron
Close: 2154
Change in %: -3.2
19 Micron
Close: 1846
Change in %: -2.1
Authentico Indicator
Close: 2524
Change in %: -3.2
Forecast
According to AWEX, the January quarter (1st quarter of the year) has offered the largest volume of all quarterly periods every year since 2010. The January 2023 quarter has offered largest quarterly offering of all since 2015. The AWEX EMI has fallen just 0.6% since the end of December 2022. In USD terms, the EMI has fallen 3% over that period. It gives us the impression that current levels of supply are more or less in line with demand. The general stability in prices whilst absorbing the largest volume of supply is supporting this theory.
Next week’s auction will be over two days, Tuesday and Wednesday. While Chinese interests continue to dominate, good support from India and Europe is helping the market to maintain the fairly stable base.
Auction offering – current week
| Market | Sale | Offered | Sold | Passed In |
| North | S 39 | 12013 | 11049 | 8.0% |
| South | M 39 | 22964 | 20451 | 10.9% |
| West | F 39 | 9168 | 7983 | 12.9% |
Auction offering – next week
| Market | Sale | Sale days | Volume |
| North | S 40 | T / W | 13377 |
| South | M 40 | T / W | 27551 |
| West | F 40 | T / W | 11796 |
If you want to see the complete Wool Sales Roster click here.
The Schneider Group