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Australian Weekly Market Report

Published December 6, 2018 by Tim Marwedel

Comment

The solid market tone on Wednesday was followed by across the board increases for all merino categories on Thursday. This is a very positive result leading into next week’s 48,000 bale sale, the last before the three-week Christmas and New Year recess. The biggest gains were in the 17.0 micron and finer range. We noted strong activity also on the 14.5 and 15.5 micron types which were in larger volume supply than usual this week.

AWEX Eastern Indicator compared with 29/11/2018

Eastern Indicator

Close: 1849

Change in %: -0.59%

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

Schneider Indicators compared with 29/11/2018

15 Micron (*)

Close: 2,647

Change in %: -2.80

16 Micron

Close: 2,509

Change in %: -0.80

17 Micron

Close:  2,350

Change in %: -0.26

18 Micron

Close: 2,212

Change in %: -1.31

19 Micron

Close: 2,111

Change in %: -0.38

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

It’s been a difficult 6-month period but we’ve seen a positive reaction to the new price levels for fine wool. There has been a noticeable increase in buyer activity on everything 18.5 micron and finer in recent weeks. The better types have never really moved much, nor have those declared as NM. But what has improved has been the lower specification type most suited to the Chinese market. While 19.0 / 21.5 micron maybe look too expensive, driven buy limited supply, the fine micron types look much more reasonable and less risk for those who need to buy.

Auction offering – current week

Selling Centres for week 23

Market          Sale          Offered          Sold          Passed In

North                   S 23                 9680                     8949                 7.6%

South                   M 23               19002                   16874               11.2%

West                     F 23                8728                     7784                10.8%

Auction offering – next week

Market          Sale          Sale days          Volume

North                   S 24                W-T                            13072

South                  M 24                W-T                           27146

West                    F 24                W-T                             8559

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