Australian Weekly Market Report

Published March 22, 2019 by Charlie Toll

Comment

Certain sectors were expecting a further easing in the market, some more than others. However some trade activity late last week that was reflected in the wool futures market resulted in a relatively stable opening to overall prices. Some instability in global currencies put downward pressure on local prices on Thursday but this was reflected in a dearer market in USD terms. All in all a good result that should hopefully return a little confidence.

AWEX Eastern Indicator compared with 15/03/2019

Eastern Indicator

Close: 1963

Change in % -0.81%

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

Schneider Indicators compared with 15/03/2019

15 Micron (*)

Close: 2,881

Change in %: -0.66

16 Micron

Close: 2,539

Change in %: -3.51

17 Micron

Close:  2,414

Change in %: -0.33

18 Micron

Close: 2,312

Change in %: -1.86

19 Micron

Close: 2,226

Change in %: -1.66

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

Weekly sale volumes from now will be more likely around 40,000 bales. Some positive signs with a few good clips on offer in Melbourne around 18.0 micron, typically form the western districts. We do see some good autumn shorn wools from that part of Australia. However anything coming from other parts of Victoria, NSW and Queensland will be significantly affected by the drought.

Auction offering – current week

Selling Centres for week 38

Market          Sale          Offered             Sold          Passed In

North                    S 38                 10941                 10198                   6.8%

South                   M 38                 21855                 19555                 10.5%

West                     F 38                 10333                  8948                   13.4%

Auction offering – next week

Market          Sale          Sale days          Volume

North                   S 39                 W-T                           8779

South                   M 39                W-T                           21133

West                     F 39                 W-T                          9259

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