Currency markets are fluctuating a little and this is impacting on market confidence. The AWEX EMI was down just 7 USC (0.5%) for the week but 1.2% lower in local currency. The smaller volume offering, just 21,000 bales nationally, wouldn’t have helped. And furthermore, 15% of those were passed in, resulting in just 18,000 bales being sold to the trade for the week. Topmakers seem to be taking the most advantage of the more subdued tone in the auction room. The small offering of better yielding and performing types were largely unchanged but all other descriptions were irregular.
AWEX Eastern Indicator compared with 31/05/2019
Change in % -1.22%
If you want to learn more about AWEX indicators, visit the official website http://www.awex.com.au
Schneider Indicators compared with 31/05/2019
Change in %: +0.24%
Change in %: -1.86%
Change in %: -1.75%
Change in %: -0.32%
Change in %: -2.01%
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.
Sales in Fremantle will be on again next week after a one-week break. It’s a very quiet time of the year in Western Australia and each year there are a few weeks during this period without sales.
The drought continues in parts of NSW. Lambing numbers were significantly affected last year and young weaner weathers are being sold as we move into winter without sufficient grass cover. This will impact further on wool production this year, particularly in the New England region where the Italian market often relies on heavily for volume of quality types.
Auction offering – current week
Selling Centres for week 49
Market Sale Offered Sold Passed In
North S 49 9495 8162 14.0%
South M 49 12249 10218 16.6%
West F 49 no sale
Auction offering – next week
Market Sale Sale days Volume
North S 50 W-T 8242
South M 50 W-T 15136
West F 50 W-T 6611
If you want to see the complete Wool Sales Roster click here.