AUSTRALIAN WEEKLY MARKET REPORT
Comment
Prices in USD remained fairly flat this week while edging lower again in local values. Chinese demand, needed to support the general offering, is spasmodic at best and failing to provide the competition needed to steady the market. There is no clear indication from China, and this is encouraging the negative sentiment. The better specification types, in limited supply, continue to be more keenly sought after and we’ve noted in the auction some traders beginning to ‘pick up’ at these levels. 17.5 micron is a good example. The longer more average types were generally neglected on Tuesday but rebounded strongly on Wednesday. This would indicate that some traders do see value around current prices.
AWEX Eastern Indicator compared with 04/11/2022
Eastern Indicator
Close: 1241
Change in % -1.59
Authentico Index Values
15 Micron
Close: 3424
Change in %: +3.0
16 Micron
Close: 2711
Change in %: -2.22
17 Micron
Close: 2495
Change in %: +2.3
18 Micron
Close: 2067
Change in %: -2.9
19 Micron
Close: 1754
Change in %: -1.68
Authentico Indicator
Close: 2429
Change in %: -0.25
Forecast
Supply is being restricted on two fronts. Growers are reluctant to offer wool at the moment while the market direction is heading in the wrong direction. And secondly, wool has been held up on farm with trucks unable to move the bales into store due to localised flooding across the eastern states. Considering the state of the market, it’s probably a good result to have more limited supply and this will help to steady prices.
Auction offering – current week
Market | Sale | Offered | Sold | Passed In |
North | S 19 | 8160 | 7278 | 10.8% |
South | M 19 | 17238 | 15084 | 12.5% |
West | F 19 | 5697 | 4334 | 23.9% |
Auction offering – next week
Market | Sale | Sale days | Volume |
North | S 20 | T – W | 8337 |
South | M 20 | T – W | 20519 |
West | F 20 | T – W | 8085 |
If you want to see the complete Wool Sales Roster click here.