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.
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.
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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.