AUSTRALIAN WEEKLY MARKET REPORT

Comment

The wool market opened this week following the three-week recess from sales. With almost 50,000 bales originally rostered for sale, buyers and customers were no doubt a little cautious to begin with. The Australian dollar had depreciated against the US over the past few weeks, and this was building pre-sale expectations of a relatively stable market to open up with. Best merino fleece lines were keenly sought after all week. The better selection that included some new season fine wool of excellent quality, were in strong demand from Italian interests. This certainly helped to get the market off to a good start. Passed in rates were relatively stable and the market, in Australian dollar terms, finished the week around similar levels. With just some minor adjustments up and down across the board. The fine and superfine types 14.5 to 17.5 micron were probably the most keenly sought after. It’s in this area, when the quality is good, that the certified NM wools are attracting strong support.

AWEX Eastern Indicator compared with 14/07/23

Eastern Indicator

Close: 1176

Change in % -0.2

Authentico Index Values

15 Micron

Close: 3553

Change in %: +1.3

16 Micron

Close: 2623

Change in %: -0.7

17 Micron

Close: 2101

Change in %: +0.6

18 Micron

Close: 1824

Change in %: +2.1

19 Micron

Close: 1632

Change in %: +0.8

Authentico Indicator

Close: 2221

Change in %: +0.8

Forecast

It will be a slightly smaller offering next week and with the opening sale nerves now behind us, we hope that prices, if not necessarily expected to change dramatically, are maintained around similar levels. There seems good support around this base.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 06	14764	13869	6.1%
South	M 06	24582	22113	10.0%
West	F 06	9683	8624	10.9%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 07	T / W	16083
South	M 07	T / W	23243
West	F 07	T / W	7548

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