AUSTRALIAN WEEKLY MARKET REPORT

Comment

With consumer confidence growing in China, we saw a very positive market this week with indent and greasy traders all active. Despite what appears to be a quiet patch in both Europe and Japan the market remains robust, even with quite large volumes on offer. India still approaching the market with caution as the prices they are offering are unrealistic when compared to replacement cost. High quality merino wool remains the focus of many, as they are scarce at this time of the season. Higher dust content, VM, colour and cotted wool are all playing there part in shaping the market. Exporters are being very selective as a result creating some irregularities across the micron ranges.

AWEX Eastern Indicator compared with 28/04/23

Eastern Indicator

Close: 1310

Change in % +0.70

Authentico Index Values

15 Micron

Close: 3956

Change in %: +3.9

16 Micron

Close: 2826

Change in %: -3.4

17 Micron

Close: 2360

Change in %: -1.3

18 Micron

Close: 2051

Change in %: +0.9

19 Micron

Close: 1803

Change in %:  +0.9

Authentico Indicator

Close: 2464

Change in %: -0.3

Forecast

With currency bouncing around, interest rate hikes, consistently large volumes on offer will all play a role in shaping the market in the coming weeks. The resounding message from abroad is that demand is slow but steady which should assist the market in the coming weeks/months. Dumping and packing backlogs look to be improving especially with a major dump expanding its operations to alleviate the bottle neck that has been in place for some time.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 44	9392	8551	9.0%
South	M 44	21858	19610	10.3%
West	F 44	7588	6559	13.6%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 45	T / W	9916
South	M 45	T / W	27129
West	F 45	T / W	11598

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