AUSTRALIAN WEEKLY MARKET REPORT

Comment

What seemed to be a small wave of enthusiasm on day 1 of the auction this week, soon disappeared on day 2. Only shining light was high quality certified wool which remained firm. Small amount of trading occurred throughout the week with China and India, however not quite enough to keep up the momentum. Currency fluctuations also affected the market whilst traders tried to cover contracts. A smaller volume tried to assist the market without W.A. selling, but this did not happen.

AWEX Eastern Indicator compared with 02/06/23

Eastern Indicator

Close: 1208

Change in % -0.01

Authentico Index Values

15 Micron

Close: 3855

Change in %: +1.50

16 Micron

Close: 2678

Change in %: +2.20

17 Micron

Close: 2285

Change in %: -2.70

18 Micron

Close: 1957

Change in %: -1.90

19 Micron

Close: 1671

Change in %: -1.90

Authentico Indicator

Close: 2361

Change in %: -0.70

Forecast

Caution and pessimism have crept back into the market as we return to a 45,000 bale sale week nationally. The fundamentals have not changed, however attitude toward the market may have. It appears that we are set for a few weeks of small peaks and troughs as selection style and volume play their role in shaping the market.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 49	11431	10191	10.8%
South	M 49	22004	18848	14.3%
West	F 49	No Sale

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 50	W / T	11902
South	M 50	W / T	21461
West	F 50	W / T	11962

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