AUSTRALIAN WEEKLY MARKET REPORT
Volatility continues. Tuesday this week saw the second greatest one day increase for the EMI according to AWEX reports, the largest being in September 2019. This followed with an easing in prices on Wednesday. The demand is for prompt delivery of greasy wool to China, clearly in short supply, and this is fuelling the volatility. We see this around this time of the year regularly. The uncertainty regarding the global situation is only making the situation more complicated. We are however, pleased to see the fortunes of the market improve. Good wool prices and strong livestock values will surely help to build the future of the merino industry in Australia. The finer merino types continue to be keenly sought after and the crossbred types at the other end of the scale were also in demand this week, closing at the highest point.
AWEX Eastern Indicator compared with 16/10/2020
Change in % +9.13%
If you want to learn more about AWEX indicators, visit the official website http://www.awex.com.au
Authentico Index Values
Change in %: +2.73
Change in %: +4.49
Change in %: +6.11
Change in %: +4.13
Change in %: +6.37
Change in %: +4.76
We’ve been keenly observing the strong ram sale results in the past month. Stud breeders from across Australia have all seen greater clearance numbers and increased average prices for their stud sheep. This is a show of strength for the merino industry in Australia. It would appear that wool producers are trying to rebuild numbers in a much better season. The focus on ram selection is on quality wool and increased fertility. Surplus sheep and breeding stock in particular are extremely valuable and if current wool prices are sustainable, which we hope they are, this will help to stabilise supply for the next couple of years.
Auction offering – current week
Market Sale Offered Sold Passed In
North S 17 8122 7929 2.4%
South M 17 15674 14903 4.9%
West F 17 9278 8261 11.0%
Auction offering – next week
Market Sale Sale days Volume
North S 18 T / W 12122
South M 18 T / W 20994
West F 18 T / W 10888
If you want to see the complete Wool Sales Roster click here.