Australian wool sales resumed this week and started on a very positive note for 2019. It was a large national offering with 44,000 bales being sold to the trade for a value of $86,470,000. All types and descriptions were dearer but in particular the small offering of better specification lots always seem immune to the variability of the general market. A premium quality product is in smaller supply and more consistent demand. They are not relying only on the Chinese market. By Thursday the market had settled around 2.5% dearer for the week. Large Chinese indent orders kept prices around about on that day and we expect these orders to continue to dictate the market trend in the short term.
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.
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We will no doubt see some variables in the market over the next six months as the selection deteriorates in terms of quality and quantity. The supply of good types for the Italian sector will be small so we expect the price for good types with the low CVH required by our weaver clients to remain more consistent than the general market. Growers must focus on preparing their clip as best they can to ensure they get maximum competition from the widest possible bench of buyers on any given day. Many customers were on a ‘watch’ this week so it was a good result. We have a very large national offering next week before volumes start to reduce through February and onwards.
Auction offering – current week
Selling Centres for week 28
Market Sale Offered Sold Passed In
North S 28 9922 9546 3.8%
South M 28 26260 24752 5.7%
West F 28 11411 9963 12.7%
Auction offering – next week
Market Sale Sale days Volume
North S 29 W-T 14,349
South M 29 T-W-T 28,604
West F 29 W-T 10,955
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