AUSTRALIAN WEEKLY MARKET REPORT

Comment

The wool market closed on a much more positive tone after uncertainty on day one due to confusion on trade with China was sparked by the outbreak of the Coronavirus. Large grower withdrawals and passed in rates eventually helped to lead a recovery. There remains enough short term demand to cover the reduced volume eventually sold to market. The better Italian weaving types remained more keenly sought after. Our Authentico indicator closed at 2222, a fall of just 0.9% for the week.

AWEX Eastern Indicator compared with 24/01/2020

Eastern Indicator

Close: 1548

Change in % -1.78

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

Authentico Index Values

15 Micron

Close: 2604

Change in %: +2.84

16 Micron

Close: 2398

Change in %: -0.87

17 Micron

Close: 2221

Change in %: +0.49

18 Micron

Close: 2071

Change in %: -0.43

19 Micron

Close: 1944

Change in %: -1.77

Authentico Indicator

Close: 2222

Change in %: -0.94

Forecast

Global news will be closely monitored over the next few days. Most factory workers in China have been given until the 10^th February to return to work. This will ultimately depend on travel restrictions from region to region and potentially personal circumstances and any change to this could spark further disruption. But for now, the wool market has performed very well with a combined effort from both buyers and sellers. Those who need wool in the short term could potentially have some difficulty with the reduced offerings.

Auction offering – current week

Selling Centres for week 31

Market          Sale          Offered             Sold       Passed In

North                      S 31                     8938                       6471                  27.6%

South                     M 31                    17165                      12321                  28.2%

West                       F 31                      7597                        5210                   31.4%

Auction offering – next week

Market          Sale          Sale days          Volume

North                      S 32                     W/T                           11120

South                     M 32                    W/T                           19823

West                       F 32                     W/T                            9905

 

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