AUSTRALIAN WEEKLY MARKET REPORT - The Schneider Group

Comment

It seems the positivity coming out of the Nanging Wool Conference was not enough to keep the wool market from slipping gradually this week even with the late rally towards the close of the week. New season wool is starting to roll in and we are seeing some very impressive style and strength in the early stages of the season. For most growers, the wool growing season has been excellent. Vegetable matter is still having an impact on the offering and the talk is for more to come in the coming months. Typically, we would see a drop off in burr at this point of the season. This will make better specification, lighter fault types, a priority for buyers as they aim to meet client specifications.

Sub 15.0 micron were again keenly sort after, but the best lots 15.5 / 17.5 micron were cheaper in a large offering.

AWEX Eastern Indicator compared with 22/09/23

Eastern Indicator

Close: 1135

Change in % -0.8

Authentico Index Values

15 Micron

Close: 3476

Change in %: -3.4

16 Micron

Close: 2426

Change in %: -3.0

17 Micron

Close: 1880

Change in %: -3.7

18 Micron

Close: 1664

Change in %: -3.4

19 Micron

Close: 1525

Change in %: -2.6

Authentico Indicator

Close: 2048

Change in %: -3.3

Forecast

Slightly larger volumes in weeks 14 & 15 will surely test the resolve of the market as we head into week 16 as a designated superfine wool offering in Sydney. General positive talk out of China is expected to see the market move in an upward trend from late September onwards. Some suggestions that Chinese mills are looking for supply to feed their machinery could assist the 19.5/22.5-micron range. Superfine wool is in demand from the European market at the moment which continues to see good support for well-prepared wool clips. However, the clips in this range with an NM mulesing status were certainly favored this week.

Crossbred types, although coming from a very low base, continue to firm and this trend should continue.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 13	13385	12323	7.9%
South	M 13	18753	16684	11.0%
West	F 13	6571	5815	11.5%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 14	W / T	12716
South	M 14	W / T	23194
West	F 14	W / T	6205

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