AUSTRALIAN WEEKLY MARKET REPORT

Comment

Sales resumed this week following the Easter recess and a large national offering was put forward to the trade. The initial volume did certainly raise some premarket concerns while at the same time we had a strengthening Australian dollar against the USD. We did hear some reports of small but regular greasy wool trading business with the usual customers. However, it wasn’t expected to be enough to hold the large volume on offer and stop the market from easing. Prices did open lower but, as we’ve seen regularly in recent times, they were not as bad as expected. With 53,000 bales on offer, the market did exceptionally well to hold, adding further confidence to support the market around these levels in the short to medium term.

AWEX Eastern Indicator compared with 07/04/23

Eastern Indicator

Close: 1289

Change in % -0.8

Authentico Index Values

15 Micron

Close: 3807

Change in %: +5.0

16 Micron

Close: 2905

Change in %: +2.5

17 Micron

Close: 2405

Change in %: -2.0

18 Micron

Close: 2059

Change in %: -2.3

19 Micron

Close: 1765

Change in %:  -2.4

Authentico Indicator

Close: 2477

Change in %: +0.3

Forecast

The volume available for sale next week is currently listed at a far more manageable level. With the selection continuing to deteriorate, particularly with regards to higher vegetable matter, then we expect good light fault types to remain keenly sought after. Sales will be held on Wednesday and Thursday next week with Australia and New Zealand celebrating ANZAC day with a public holiday on the 25th.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 42	13550	12045	11.1%
South	M 42	28604	25211	11.9%
West	F 42	10797	9161	15.2%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 43	W / T	9648
South	M 43	W / T	24727
West	F 43	W / T	10526

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