AUSTRALIAN WEEKLY MARKET REPORT

Comment

In a dismal week in the auction rooms, certified wool still continues to prosper above all other type of wool. Certified wool indicators have moved the least in a week of lackluster demand, poor style offering and a general over supply. The style of the offering is clearly dictating activity in the sale room as exporters and traders scramble to provide their clients with the strict specifications they require. High VM, overlength, high CVH and high mid break coupled with excessive colour and cotted wool are all playing a part in the market direction. Grower resistance this week had less impact on the market with many growers electing to sell rather than hold.

AWEX Eastern Indicator compared with 11/05/23

Eastern Indicator

Close: 1263

Change in % -2.0

Authentico Index Values

15 Micron

Close: 3788

Change in %: -1.7

16 Micron

Close: 2681

Change in %: -1.8

17 Micron

Close: 2344

Change in %: +0.5

18 Micron

Close: 1996

Change in %: +0.5

19 Micron

Close: 1768

Change in %:  0.0

Authentico Indicator

Close: 2394

Change in %: -0.4

Forecast

Another big sale week with approx. 45,000 bales nationally will certainly test the market direction and the enthusiasm of the exporter and traders. Style will continue to play its part as low vm wool are the focus of many as they try to fulfil client orders to specification. As always in this period of uncertainty it will provide opportunities for the brave enough to take a position in the market.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 46	8927	7809	12.5%
South	M 46	25704	22107	14.0%
West	F 46	7858	6068	22.8%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 47	T / W	10529
South	M 47	T / W	26765
West	F 47	T / W	8642

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