AUSTRALIAN WEEKLY MARKET REPORT

Comment

Activity was clearly more focused on the Chinese specification types this week. The largest percentage change was on the tender and more average performing wool types. These are usually the first to react in any market change and typically are the most volatile. Our better types for our Italian weaver clients were generally very firm this week. The better style and strength types are not as exposed to the volatility in the current market. This was the same for the Authentico clips. They didn’t move much, in fact even slightly easier in the 17.5 / 19.0 range as the general market activity was dominated by those seeking wool at a price. It was a very welcome sign though. This activity resulted in one of the more stable overall market trends in recent weeks if not months.

AWEX Eastern Indicator compared with 4/10/2019

Eastern Indicator

Close: 1543

Change in % +2.12

If you want to learn more about AWEX indicators, visit the official website http://www.awex.com.au

Authentico Index Values

15 Micron

Close: 2428

Change in %: +0.37

16 Micron

Close: 2233

Change in %: +1.59

17 Micron

Close: 2053

Change in %: -1.39

18 Micron

Close: 1992

Change in %: -0.69

19 Micron

Close: 1909

Change in %: -1.34

Authentico Indicator

Close: 2094

Change in %: -0.33

Forecast

We have another designated superfine sale in Sydney next week. These sales are becoming less dominated by superfine clips as growers look to sell into a positive market tone as a preference over when they have traditionally offered their wool. Even considering this, we do expect a few more superfine clips. The New England region is suffering from an extended and brutal drought. This is forcing further reductions in sheep numbers added to reduced cut per head, lower lambing percentages and increasing feed costs. The real cost of this on the level of production is still a long way from being realised. These woolgrowers must be commended for their resolve and commitment to wool growing and the welfare of their sheep in such difficult times.

Auction offering – current week

Selling Centres for week 15

Market          Sale          Offered             Sold       Passed In

North                    S 15                       6753                          6352                  5.9%

South                   M 15                      15151                         14238                 6.0%

West                     F 15                        6245                          5425                 13.1%

Auction offering – next week

Market          Sale          Sale days          Volume

North                      S 16                        W-T                           11113

South                      M 16                       W-T                          21108

West                        F 16                        W-T                           7835

 

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