AUSTRALIAN WEEKLY MARKET REPORT - The Schneider Group

Comment

Wool auction values have begun the new selling season strongly with prices improving substantially. The volume offered was not as great as anticipated and exporters appeared to be accumulating purchases for prompt shipment. The competition came from the larger Chinese topmakers, and all Chinese types and descriptions were dearer. The European types were less affected and closed largely unchanged. The exception being some selected 16 micron superior types which were keenly sort after. It is also noted in the relatively small movements in our more focused Authentico index values in comparison with the AWEX EMI that covers a more general and wider basket of types.

There was 26% less wool offered this week compared to the same sale last year. This took a few by surprise but supports the notion that growers no longer ‘need’ to sell. Rather, they will wait for the best opportunity.

AWEX Eastern Indicator compared with 30/06/23

Eastern Indicator

Close: 1162

Change in % +3.2

Authentico Index Values

15 Micron

Close: 3430

Change in %: -4.2

16 Micron

Close: 2662

Change in %: +3.3

17 Micron

Close: 2040

Change in %: +0.3

18 Micron

Close: 1735

Change in %: unch

19 Micron

Close: 1577

Change in %: +0.8

Authentico Indicator

Close: 2166

Change in %: +0.2

Forecast

We have just the one sale remaining prior to the annual three-week recess. On the back of the more positive sale this week, we would expect the volume to be offered next week to increase a little when compared to the last estimate. The indicative prices between the various markets is a little more variable from day to day and as the markets align, we will see some adjustments in prices between the sale centres daily.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 01	12849	12368	3.7%
South	M 01	16400	14945	8.9%
West	F 01	6910	6523	5.6%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 02	T / W	15400
South	M 02	T / W	22156
West	F 02	T / W	6896

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