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Australian Weekly Market Report

Published September 14, 2018 by Tim Marwedel

General Market Summary

The market remained fairly stable this week. Prices are traditionally a little softer through this period of the season with auction volumes usually starting to increase. However, despite the high price levels, demand was sufficient to maintain prices for another week around about similar levels. Of particular interest to us and many of our weaver clients, is the almost daily occurrence of strong interest in the better style and specification 16.0 to 18.5-micron fleece wool. They remain extremely well supported while other more average descriptions move with a little more regularity as expected when considering the high levels of price. The only movement the better fine micron fleece types are making at the moment is slowly upwards.

AWEX Eastern Indicator compared with 07/09/2018

Eastern Indicator

Close: 2094

Change in %: +0.29%

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

Schneider Indicators compared with 07/09/2018

15 Micron (*)

Close: 3503

Change in %: -2.85

16 Micron

Close: 3141

Change in %: -0.64

17 Micron

Close:  2793

Change in %: +2.01

18 Micron

Close: 2546

Change in %: +1.22

19 Micron

Close: 2352

Change in %: +0.09

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 see little reason for much change in the overall market sentiment. Auction quantities are not increasing as would be expected and there seems sufficient daily competition to limit any significant downward movement in any single day. The auction system is supporting the grower interests extremely well. With strong buyer demand to source quality raw materials and the limited supply restricted to the two-day sales in each market, buyers must buy regularly to secure what they need while trying not to force prices further. This is limiting any daily movement, particularly on the downside.

Auction offering – current week

Selling Centres for week 11

Market          Sale          Offered          Sold          Passed In

North                   S 11                 10255                   10068                  1.8%

South                   M 11               18060                   17587                   2.6%

West                    F 11                 5749                      5505                    4.2%

Auction offering – next week

Market          Sale          Sale days          Volume

North                   S 12                W-T                            8401

South                  M 12               W-T                            22318

West                    F 12                W-T                            5842

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