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Australian Weekly Market Report
Published November 8, 2018 by Tim Marwedel
Another easing trend this week but with a more positive tone on better fine wool as they seem to be gaining favour from Italian interests at these new levels, particularly 17.0 to 19.0 micron. Despite it being a designated superfine sale, volume of quality fine wool was very limited and nothing like it was in the past. It’s been a significant market correction over the past month and growers are offering their wool with some hesitation. About 20% of the original offering was either passed in or withdrawn from sale prior with the result of only 25,000 bales being sold to the international trade. There was a clear distinction between the better lots, now being offered as a smaller percentage of the total offering, and the more inferior wool types which are quickly starting to dominate the selection. The longer, lower strength and lower yielding wool is more suited to Chinese production and while these types are in big supply and the Chinese market is quiet, there can only be one result on these types.
Non mulesed wool was again less affected by this week’s market change.
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.
The national production figures are due to be updated shortly. Not only are the net kilograms of wool production expected to fall further, with the drought affected lower yields, the clean kilogram equivalent is expected to be impacted even more. We will advise some detail when it becomes available.
Auction offering – current week
Selling Centres for week 19
Market Sale Offered Sold Passed In
North S 19 8625 7116 17.5%
South M 19 17172 14086 18.0%
West F 19 6392 4253 33.5%
Auction offering – next week
Market Sale Sale days Volume
North S 20 W-T 10161
South M 20 W-T 21419
West F 20 W-T 8303
If you want to see the complete Wool Sales Roster click here.