AUSTRALIAN WEEKLY MARKET REPORT

Comment

A more positive result this week as the market maintained composure. Certified wool attracted keen competition particularly in the finer micron ranges 14.5 to 15.5. 16 micron presented some opportunities to traders as this micron fluctuated due to variable quality. 17 and 18 micron attracted the most attention experiencing healthy gains this week, while 19 to 21 micron traded well in volume however price achieved was tempered. The upcoming Nanging Wool conference appeared to drive the market a little this week as traders acquired volume ready to trade in the coming week. High quality still tops the sales which should encourage wool producers to stick with wool and make sure attention to detail is forefront in the shearing shed when preparing their wool clip. Genuine demand for certified wool remains for those wishing to take this journey. Indent buyers remain consistent helping the market rebound this week. European and Continental interests are starting their quest in search of the highest quality from now until December 2023 before the dryer seasonal conditions appear.

AWEX Eastern Indicator compared with 08/09/23

Eastern Indicator

Close: 1148

Change in % +1.80

Authentico Index Values

15 Micron

Close: 3729

Change in %: +4.30

16 Micron

Close: 2420

Change in %: -2.70

17 Micron

Close: 1998

Change in %: +2.00

18 Micron

Close: 1742

Change in %: +4.00

19 Micron

Close: 1544

Change in %: 0.0

Authentico Indicator

Close: 2133

Change in %: +1.60

Forecast

What does the next few weeks hold for us? A smaller rotation of sales with only 35,000 to 40,000 bales per week over the next 3 weeks could assist the market to maintain composure. Currency is relatively stable at the moment so should not have any dramatic affect. Hopefully some positive news to come out the upcoming Nanging Wool Conference will set traders up for a healthy final quarter 2023.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 11	12094	11715	3.1%
South	M 11	20775	19768	4.8%
West	F 11	6454	6063	6.1%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 12	T / W	12314
South	M 12	T / W	23595
West	F 12	T / W	6978

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