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Australian Weekly Market Report

Published October 5, 2018 by Tim Marwedel

Comment

It was a larger national sale with an increased volume of finer wool in the northern market catalogue. Chinese interests focused on the medium and broader micron merino’s this week. The 18.5 to 19.0 – micron range were just a little easier and 19.5 to 21.0 micron improved over the week. The market in this range continues to outperform general expectations. However, the increased volume of poorer specification fine wool was too much of a burden for the exporters to carry during this period of high prices and customers not convinced of the current price levels. 14.5 to 16.5 micron were the most affected but it was very encouraging to see an improvement in buyer sentiment on these types Thursday. Some buyers appeared to take confidence to accumulate at the reduced basis and prices improved in the 15.0 / 16.5-micron range over the day.

AWEX Eastern Indicator compared with 28/09/2018

Eastern Indicator

Close: 1992

Change in %: -1.04%

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

Schneider Indicators compared with 28/09/2018

15 Micron (*)

Close: 3315

Change in %: -5.37

16 Micron

Close: 2957

Change in %: -1.56

17 Micron

Close:  2663

Change in %: -4.47

18 Micron

Close: 2424

Change in %: -3.14

19 Micron

Close: 2273

Change in %: +0.44

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

The Australian Wool Exchange (AWEX) conducts a review the industry Code of Practice every three years with wide industry consultation. The purpose is to ensure that the integrity of the Australian wool clip continues to be held in the highest regard amongst our customers. The AWEX Board has approved the recent review. The Schneider Group is a strong supporter of the AWEX Code of Practice. It has very clear guide lines on wool clip preparation that wool growers and their classer should follow to ensure best practice is maintained and our wool clip continues to be a trusted and reliable source of supply for consumers across the world. The Australian wool clip is held in the highest regard largely due to the work done by AWEX, the Code of Practice and the high standard of our registered wool classers. Some wool classers were recently awarded with a gold stencil recognising 50 consecutive years of classing the Australian wool clip.

The Schneider Integrity Scheme, Authentico, is gaining strong support from the wool growing community. One of the key elements of Authentico is for a grower’s wool clip to be prepared in compliance with the AWEX Code of Practice. Almost 1500 bales have been sold at auction under the Authentico Quality Assurance scheme in the first 8 sale weeks since launch. We have been pleased to be able to buy some of these bales as we now start to build trusted supply chain partnerships with some important clients. We encourage growers to consider the Authentico scheme as a part of their on-farm quality assurance.

Auction offering – current week

Selling Centres for week 14

Market          Sale          Offered          Sold          Passed In

North                   S 14                10207                    9221                   9.7%

South                   M 14               21124                   18858                10.7%

West                    F 14                 6986                     6163                  11.8%

Auction offering – next week

Market          Sale          Sale days          Volume

North                   S 15                W-T                            8905

South                  M 15                W-T                            17235

West                    F 15                W-T                             8327

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