As a direct result of last week’s strong market rally, we had a large weekly offering of just below 50,000 bales. With the auction in Fremantle the week before giving a poor lead into the sale in Melbourne on Tuesday, some exporters were expecting the worst. However modest loses were recorded and they weren’t to the extent of the loses realised in Fremantle the Thursday prior. This encouraged a much more positive market tone on Wednesday with prices improving marginally again on Thursday. The close in Fremantle was stronger than that in Melbourne and Sydney. There was a small but useful superfine offering in Sydney. Some volume of extra-fine types (13.0/16.0 micron) that were somewhat drought affected were keenly sort after by Italian and Chinese interests. Most were short length and contained a degree of tender but still sold in a competitive market.
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.
It will be another relatively large offering next week. Just over 46,000 bales will be offered including a three-day sale in Melbourne. The offering quality is on the decline but the market price is not being adversely affected. All types and descriptions remain keenly sort after and sale volumes the following few weeks are expected to be around 15/20% less than the current bale numbers. The sale result yesterday should help the market stability early into next week.
Auction offering – current week
Selling Centres for week 35
Market Sale Offered Sold Passed In
North S 35 12341 11676 5.4%
South M 35 25100 22816 9.1%
West F 35 11507 10354 10.0%
Auction offering – next week
Market Sale Sale days Volume
North S 36 W-T 10712
South M 36 T-W-T 26597
West F 36 W-T 8819
If you want to see the complete Wool Sales Roster click here.