AUSTRALIAN WEEKLY MARKET REPORT

Comment

The superfine wool market is certainly having it’s time in the sun. The 15.0 micron and finer range picked up again this week with prices as much as 20% dearer for selected quality types. In the end our Authentico index for 15.0 micron was 13.7% dearer and still trending upwards. To average 15.0 micron is the key with those wools around 14.5 micron attracting significant buyer support from a variety of companies. In the auction room two buyers would challenge each other and for one to drop out, another would enter. Something we haven’t seen for years. The market hasn’t seen these types for a couple of seasons with the prolonged drought experienced 2 years ago followed now by the much better growing season that is seeing many clips testing up to 1.0 micron broader on average.

AWEX Eastern Indicator compared with 03/09/2021

Eastern Indicator

Close: 1361

Change in % +2.17

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

Authentico Index Values

15 Micron

Close: 4488

Change in %:  +13.7

16 Micron

Close: 3182

Change in %: +3.14

17 Micron

Close: 2581

Change in %: -0.88

18 Micron

Close: 2198

Change in %: +1.24

19 Micron

Close: 1792

Change in %: +1.01

Authentico Indicator

Close: 2698

Change in %: +2.93

Forecast

Chinese activity was evident late last week but demand slowed just prior to this week’s sale. It was enough to kick start the sale on a positive note. Perhaps a sign of a little more maturity in the market that is leading towards more stability. Just as we’ve seen for the past 6 months or so. It is generally a slow period at this time of the year so to have a market around about from week to week is a good result for this time of the season. Greasy wool stocks still appear to be low so we remain positive in the medium term.

We noticed one exporter has launched a new buying code with ‘non mulesed’ in the company name. It’s certainly at least an indication of the increasing trend in global demand for wool from non mulesed clips.

Auction offering – current week

Market          Sale         Offered        Sold       Passed In

North                      S 10                   9809                  8599                12.3%

South                     M 10                  17448                 16023               8.2%

West                       F 10                    4441                   4185                  5.8%

Auction offering – next week

Market          Sale          Sale days

North                      S 11                      T / W

South                      M 11                     T / W

West                        F 11                      T / W

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