Australian Weekly Market Report

Published February 8, 2019 by Charlie Toll

Comment

There was an improved offering of fine wool in Sydney this week. The large offering of inferior fine wool with lower strength was expected to put some pressure on the market. However with a relatively stable result on Wednesday, prices rallied on Thursday to close very positively. The general market focus was on fine wool. Italian interests were very active on all good fleece wool from 15.5/18.0 micron but were well supported by other sectors seeking good specification and performance wool. No doubt the industry appetite for NM wool continues to grow with a wider range of buyers active across all types and descriptions.

AWEX Eastern Indicator compared with 31/01/2019

Eastern Indicator

Close: 1944

Change in %: +0.52%

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

Schneider Indicators compared with 31/01/2019

15 Micron (*)

Close: 2,862

Change in %: +0.98

16 Micron

Close: 2,641

Change in %: +2.76

17 Micron

Close:  2,530

Change in %: +2.21%

18 Micron

Close: 2,358

Change in %: +0.34

19 Micron

Close: 2,220

Change in %: +1.35

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

Smaller national volume next week will keep pressure on wool prices. At the very least the reduced quantity will limit any downside.

Auction offering – current week

Selling Centres for week 32

Market          Sale          Offered          Sold          Passed In

North                    S 32               11262                  10555                  6.3%

South                   M 32               19396                  18149                  6.4%

West                     F 32                9236                    8388                   9.2%

Auction offering – next week

Market          Sale          Sale days          Volume

North                   S 33                 W-T                            7483

South                   M 33                W-T                           23356

West                    F 33                  W-T                            8821

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