AUSTRALIAN WEEKLY MARKET REPORT
The market numbers certainly weren’t great reading on Tuesday but high passed in and withdrawn rates reduced the volume sold to the trade and limited any damage to a minimum. The silver lining was the competition from Italian interests on better fine wool. As we’ve often stated, the mulesing status should be considered like an insurance policy. When the Chinese demand is limited, the deeper supply chain interest for wool from farms who no longer mules is enough to help those clips through these difficult periods. It was the same when the Covid-19 pandemic first hit in 2020. It’s not always about the premium from day to day but also about consistent demand when it’s needed most, like now. The Authentico Indicators and Index Values Authentico Index Values and Authentico Indicator by The Schneider Group (gschneider.com) were less impacted this week with only minimal change.
AWEX Eastern Indicator compared with 13/08/2021
Change in % -2.7
If you want to learn more about AWEX indicators, visit the official website http://www.awex.com.au
Authentico Index Values
Change in %: +1.74
Change in %: -1.09
Change in %: -0.68
Change in %: +0.31
Change in %: -1.1
Change in %: -0.19
Large volumes were again withdrawn from sale prior to auction or passed in when failing to meet the grower reserve. This is definitely helping the market. The general level of competition on Wednesday in Sydney and Melbourne was more encouraging. There were less holes in the market on Wednesday and the inferior types which often failed to get much interest on Tuesday, were getting more buyer support at this level.
Auction offering – current week
Market Sale Offered Sold Passed In
North S 07 11386 7982 29.9%
South M 07 16764 13354 20.3%
West F 07 4088 1749 57.2%
Auction offering – next week
Market Sale Sale days Volume
North S 08 T / W 13537
South M 08 T / W 18806
West F 08 no sale
If you want to see the complete Wool Sales Roster click here.