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.
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.
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.