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Australian Weekly Market Report
Published August 24, 2018 by Tim Marwedel
General Market Summary
It was a smaller national offering with a wide variety of types. An increased passed in rate (10.8%) resulted with prices easing from the extreme basis the week prior. Ultimately just 26,500 bales were sold. It’s extremely small volume for this time of the season. AWEX reports that first hand offered wool in clean kilograms is down 13.2% compared to the same period last year. Not just are first hand offered bales down, but there remains almost no wool held in store on behalf of growers. This critical shortage is dictating the market terms. Last weeks extreme rise had the AWEX EMI increasing by an incredible 126 cents. This week, while cheaper, it was by less than half of last week’s increase, a common theme in recent times. Prices for 19.5 and broader improved towards the close of sale on Wednesday.
Each indicator is expressed by a number representing a market quotation for a selected range of types and is not a price expression and it’s not influenced by currency fluctuations.
Wool indicators are anyway based on Australian Dollar.
If you want to learn more about SCHNEIDER indicators Click here.
Some political instability this week has resulted in a fluctuating Australian dollar value and this could impact on local prices next week. We have the first of the designated superfine sales next week and an improvement in quality and quantity of 14.5/18.0 micron for the first time in at least 6 months.
Auction offering – current week
Selling Centres for week 08
Market Sale Offered Sold Passed In
North S 08 10348 9532 7.9%
South M 08 19343 16967 12.3%
West no sale
Auction offering – next week
Market Sale Sale days Volume
North S 09 W-T 10541
South M 09 W-T 16019
West F 09 W-T 8400
If you want to see the complete Wool Sales Roster click here.