Finally, a more positive market tone. Client bids under the market were being rejected by the exporters and processors leading into the auction as supply tightened further. Growers have shown a reluctance to accept prices in a dramatically falling market leaving less than 20,000 bales sold for the week. This led to a more cautious trading approach from the large exporters. There was enough positive sentiment around prior to the sale. Most exporters of the belief that prices, if not at the bottom, were very close. This was on the basis of more interest and bids closer to spot market prices leading into the sale.

The selection of fine wool was better this week and this has helped the overall averages, including our Authentico Index’s. There was more interest from the Italian sector on 18.0 micron and finer with better style and specification types attracting strong competition. Of particular strength again this week was the 16.0-micron range. Many of the better New England region clips in this range are also NM and this is obviously attracting more attention from Europe. This is encouraging but worth noting that the current 16.0 micron levels are approximately 40% lower than end August 2018. The Authentico Indicator was 1.68% higher this week, primarily as a result of the better 16.0 micron result. 16.0 is not included in the AWEX EMI.

AWEX Eastern Indicator compared with 30/08/2019

Eastern Indicator

Close: 1365

Change in % -0.73

If you want to learn more about AWEX indicators, visit the official website

Authentico Index Values

15 Micron

Close: 2445

Change in %: +0.58

16 Micron

Close: 2216

Change in %: +4.63

17 Micron

Close: 2055

Change in %: +2.39

18 Micron

Close: 1953

Change in %: +1.09

19 Micron

Close: 1727

Change in %: -4.27

Authentico Indicator

Close: 2063

Change in %: +1.68


28,000 bales rostered for sale next week. There is grower held bales in store waiting for a clearer market trend. Despite this, the Sydney sale is restricted to a one-day sale on Wednesday. With the benchmark AWEX EMI improving in US currency this week, we hope that this gives the market some confidence to return at these reduced levels. Ultimately, it’s a matter of confidence. No doubt demand is soft but consumption of wool will continue.

Auction offering – current week

Selling Centres for week 10

Market          Sale          Offered             Sold       Passed In

North                    S 10                      7039                         5990                 14.9%

South                   M 10                     11619                        10529                  9.4%

West                     F 10                       3036                         2675                  11.9%

Auction offering – next week

Market          Sale          Sale days          Volume

North                      S 11                        W                                6289

South                      M 11                       W-T                           16237

West                        F 11                        W-T                             5397


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