AUSTRALIAN WEEKLY MARKET REPORT
It was another stellar performance for the Australian auction this week. There was no Fremantle sale which reduced the national volume to around 36,000 bales. All types and descriptions were dearer with buyers competing to meet the current prompt demand for greasy wool. There was a push by some Chinese indent operators on Wednesday as they were unable to buy from local traders. What is very pleasing for us is the current market for fine and superfine wool. We at the Schneider Group have held a long-term interest and friendship with many superfine wool producers, and in particular the Australian Superfine Wool Growers Association. We understand the difficulties they have faced over many years with an obvious overproduction of superfine wool in recent times. We couldn’t be more pleased to see the current trend which is rewarding these producers for their quality and effort.
AWEX Eastern Indicator compared with 4/06/2021
Change in % +3.72
If you want to learn more about AWEX indicators, visit the official website http://www.awex.com.au
Authentico Index Values
Change in %: +1.76
Change in %: +1.93
Change in %: +3.54
Change in %: +3.14
Change in %: +1.67
Change in %: +2.70
Sales will be held on Wednesday and Thursday next week with Monday being a public holiday in the eastern states. According to AWEX figures, the ‘grower first- hand’ bales offered up to week 50 in the 2020 season is 22% more than the first-hand bales offered to the same period in the 2019 season. No doubt the recent market performance has helped to clear a large percentage of the grower held stock. While there still appears to be a good supply of samples on the show floor that are representing bales awaiting sale, we understand from the brokers that a lot of this is crossbred types which are still struggling to sell under subdued global demand, particularly for the inferior types. These bales are unlikely to be offered until we see the market improve in that sector.
Auction offering – current week
Market Sale Offered Sold Passed In
North S 50 12705 12249 3.6%
South M 50 23583 22562 4.3%
West F 50 no sale
Auction offering – next week
Market Sale Sale days Volume
North S 51 W-T 13182
South M 51 W-T 21635
West F 51 W-T 10524
If you want to see the complete Wool Sales Roster click here.