A recent Chinese government uniform order has stimulated demand for all 21.0 micron and broader this week. The volume is not considered enough to change the fortune of the medium and broader merino wools long term but it was enough to kickstart the market for 19.5 micron and broader. Prices in this range, right through to the finer crossbred market, were all dearer on Wednesday and settled to be a little less extreme on Thursday. The finer types are easing from the recent high levels. Premiums for best quality fine wool have been very strong in the past two months but just settling a little now as we move later into the season. The focus is shifting to the broader end which have looked good value in comparison.

AWEX Eastern Indicator compared with 29/10/2021

Eastern Indicator

Close: 1340

Change in % +0.53

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Authentico Index Values

15 Micron

Close: 3882

Change in %:  -0.49

16 Micron

Close: 3021

Change in %: -2.71

17 Micron

Close: 2606

Change in %: -3.55

18 Micron

Close: 2236

Change in %: -4.69

19 Micron

Close: 1831

Change in %: -0.05

Authentico Indicator

Close: 2628

Change in %: -2.99


Fine wool down and broader wool up. This is a change to the recent trend. It was also encouraging to see the finer crossbred types attract buyer interest this week.  Vegetable matter is still a major factor determining price as buyers struggle to achieve 1.0% VM average required for standard Chinese deliveries. With regular rainfall still being recorded across most wool growing districts, we will likely see VM remain high through to next autumn.

Auction offering – current week

Market          Sale         Offered        Sold       Passed In

North                      S 18                    10632                 9729                 8.5%

South                     M 18                    22331                20232               9.4%

West                       F 18                     5331                   4633                13.1%

Auction offering – next week

Market          Sale          Sale days     Volume

North                      S 19                      T / W                    11090

South                      M 19                     T / W                    22891

West                        F 19                      T / W                     6761

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