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Australian Weekly Market Report

Published August 31, 2018 by Tim Marwedel

General Market Summary

The first of the designated superfine sales was held in Sydney this week. Some clips that we wouldn’t normally see this early in the season were offered. Competition on the best clips, good performing types that are well prepared remains very strong. While Italian interests are dominating this sector, competition from other origins is strong. Of particular note is competition on non mulesed (NM) wool with more and more buyers now competing for NM certified production batches. Overall another steadying tone over the general market despite the high market level. All types and descriptions closed dearer for the week.

The Melbourne sale on Thursday was rescheduled for Friday after a nearby factory fire stopped access to the Victorian Wool Centre. The industry reacted well to this inconvenience with the unusual Friday sale proceeding without incident.

AWEX Eastern Indicator compared with 24/08/2018

Eastern Indicator

Close: 2090

Change in %: +1.06%

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

Schneider Indicators compared with 24/08/2018

15 Micron (*)

Close: 3777

Change in %: +7.04

16 Micron

Close: 3109

Change in %: +1.54

17 Micron

Close:  2745

Change in %: -0.07

18 Micron

Close: 2505

Change in %: +0.64

19 Micron

Close: 2321

Change in %: -0.60

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.

Forecast

We are now moving into the main period of supply yet only 37,000/38,000 bales on average are being offered weekly. It’s difficult to see any significant change in local prices. While it’s still early in the season and some might be cautious to buy, a few large indent order buyers always seem willing to step into the market each time prices show an inclination to fall and therefore stopping any significant downward movement.

Auction offering – current week

Selling Centres for week 09

Market          Sale          Offered          Sold          Passed In

North                   S 09                10591                    10419                   1.6%

South                   M 09               14970                    14509                  3.1%

West                     F 09                10427                    10073                  3.4%

Auction offering – next week

Market          Sale          Sale days          Volume

North                   S 10                W-T                            11092

South                   M 10               W-T                            21466

West                    F 10                W-T                            6735

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