Australian Weekly Market Report

Published April 5, 2019 by Charlie Toll

Comment

Demand continued to ease this week in a slightly larger, poor quality offering. The offering consisting of mainly low yielding and tender wools caused the market to fall for the sixth consecutive week as demand for these types lessens. The better style and specification wools are still well supported with the select better types being highly sought after. For the third consecutive week the crossbred market has closed dearer as buyers look to buy the cheaper wool and limit any risk in the falling market. This increase meant that the EMI fell by only 0.2% for the week.

AWEX Eastern Indicator compared with 29/03/2019

Eastern Indicator

Close: 1943

Change in % -0.21%

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

Schneider Indicators compared with 29/03/2019

15 Micron (*)

Close: 2,707

Change in %: -6.58

16 Micron

Close: 2,477

Change in %: 0.00

17 Micron

Close:  2,351

Change in %: -1.32

18 Micron

Close: 2,281

Change in %: -0.44

19 Micron

Close: 2,196

Change in %: -0.23

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

It is expected that in the coming weeks due to the ongoing drought conditions we will continue to see the poor style offering. There is a slightly larger offering next week which could see the demand for the poor style wools continue with the steady trend. This year according to AWEX there has been a decline of 141,265 bales offered compared to the corresponding time last year or -9.6%. As mills need to keep their machines running this could hopefully keep it a steady market despite the poorer offering.

Auction offering – current week

Selling Centres for week 40

Market          Sale          Offered             Sold          Passed In

North                    S 40                  9580                      8734                   8.8%

South                   M 40                 20647                     18085                 12.4%

West                     F 40                  7227                       5850                   19.1%

Auction offering – next week

Market          Sale          Sale days          Volume

North                   S 41                 W-T                            6836

South                   M 41                W-T                           20978

West                     F 41                 W-T                           10898

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