AUSTRALIAN WEEKLY MARKET REPORT
All merino types and descriptions were in demand this week. Prior to the opening of the auction, prices were expected to be strong with exporters and traders hinting at healthy sales since the previous close. The market opened strongly and continued. The most inferior types were initially the most affected with volume and price the most important factors. On day two there were some signs that buyers were keener on the better specification, which were clearly better value. In monetary terms, the finer types continue to increase the most but there was a shift in focus this week towards the medium and broader merinos when considered as a percentage gain. Some were likely looking for better value in this range.
AWEX Eastern Indicator compared with 11/06/2021
Change in % +3.95
If you want to learn more about AWEX indicators, visit the official website http://www.awex.com.au
Authentico Index Values
Change in %: +5.04
Change in %: +5.21
Change in %: +4.31
Change in %: +5.68
Change in %: +5.87
Change in %: +5.06
The most obvious signal from this week’s sale was how little focus there was on staple length or strength. Often, we talk about mid break being a key characteristic that determines demand. This was not an issue this week. All qualities within a particular point of micron, regardless of length, strength or mid break, were all costing the same. This is an indication of the market dominance of China but also the focus on knitting types rather than the weaving types which typically require better performing characteristics.
The Australian dollar has eased significantly against the USD overnight. This could have an interesting influence on the local market if maintained until Tuesday.
Auction offering – current week
Market Sale Offered Sold Passed In
North S 51 12554 12062 3.9%
South M 51 19564 18618 4.8%
West F 51 10378 9847 5.1%
Auction offering – next week
Market Sale Sale days Volume
North S 52 T-W 12525
South M 52 T-W 22075
West F 52 no sale
If you want to see the complete Wool Sales Roster click here.