AUSTRALIAN WEEKLY MARKET REPORT
Superfine wools were again in keen demand despite the relatively high price. We noticed selected lots of 15.5 micron and finer were dearer this week in a nice stylish offering. As is often the result in a softer market, the NM and CM certified lines were less impacted by the cheaper trend. This is reflected in our Authentico index values which show movements of around 1 to 1.5% compared to the EMI which fell 3% for the week. NM and CM declared lines can attract demand further down the supply chain and, when considering quality as well, tend to be less exposed to daily market volatility.
AWEX Eastern Indicator compared with 25/06/2021
Change in % -3.06
If you want to learn more about AWEX indicators, visit the official website http://www.awex.com.au
Authentico Index Values
Change in %: +4.06
Change in %: -0.95
Change in %: -1.55
Change in %: +0.75
Change in %: -1.35
Change in %: -0.07
The AWEX weekly report for WK53 has highlighted some significant figures that reflect the situation with regards to supply and demand at the moment. Over the past few years, we’ve often reflected on the reduced supply being a significant factor on the wool market. In the past 12 months, according to the AWEX report, we’ve sold 311,000 more bales (+21%) than the 2019 season and at the same time the AWEX EMI has ended the year 28% higher. The volume sold is a reflection of wool that was held back in the early stage of 2020 (last season) and since sold in much better market conditions. This has occurred during the global pandemic that has caused havoc on the retail sector. Put very simply, it can only be considered a positive for wool. We are of the opinion that some grower held stock and the regular weekly passed in wool, can only be an asset for long-term market stability. We encourage growers to carefully consider the market circumstances with their broker when their wool is available for sale. Under certain circumstances, if they can hold wool for a better market, we’d encourage them to do so. We have 55,000 bales currently rostered for next week in a soft market. This might be the perfect opportunity for such a discussion.
Auction offering – current week
Market Sale Offered Sold Passed In
North S 53 10652 9205 13.6%
South M 53 20904 16199 22.5%
West F 53 11291 8178 27.6
Auction offering – next week
Market Sale Sale days Volume
North S 01 T-W 16832
South M 01 T-W-T 25595
West F 01 T-W 12556
If you want to see the complete Wool Sales Roster click here.