AUSTRALIAN WEEKLY MARKET REPORT - The Schneider Group

Comment

The wool market is waiting for some direction with little confidence amongst the traders while we work our way through this difficult period. It’s often that September is a month of instability and the fine wool, coming from historical highs, is feeling the greatest impact. There does seem to be some value around and we are taking enquiry for the better types. They now look good value in comparison to the general market. The offering at the moment is particularly nice, especially in comparison to the variable selection that we’ve seen in recent seasons of drought and flood. So those willing to buy are getting good value for their money. The quality will certainly be better than expected.

AWEX Eastern Indicator compared with 16/09/2022

Eastern Indicator

Close: 1279

Change in % -2.07

Authentico Index Values

15 Micron

Close: 3480

Change in %: -10.2

16 Micron

Close: 3076

Change in %: -3.8

17 Micron

Close: 2602

Change in %: -3.09

18 Micron

Close: 2098

Change in %: -1.96

19 Micron

Close: 1767

Change in %: +0.11

Authentico Indicator

Close: 2550

Change in %: -4.27

Forecast

We would have expected a slightly higher passed in rate this week. There was some grower resistance as we would expect, but more seem willing to sell. We presume on advice from their selling broker. We’re also very conscious of the season and think that the better light fault types will be in strong demand again once we get to Christmas and into 2023. The offering will almost certainly change dramatically from what we have available now.

Only 32,000 bales are on offer nationally next week, low numbers for this time of the year. Growers are more than likely waiting for prices to stabilise.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 12	11559	10276	11.1%
South	M 12	17384	14866	14.5%
West	F 12	6538	5584	14.6%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 13	W – T	8903
South	M 13	W – T	16166
West	F 13	W – T	6925

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