AUSTRALIAN WEEKLY MARKET REPORT
An incredibly difficult week for exporters this week with negative activity at auctions on Wednesday as limited trading and a general nervousness from the Chinese sector due to covid and power related issues. Add to this cash flow constraints coupled with slow shipping schedules and rising container costs. The market dropped a solid 30 cents on the Eastern Indicator and grower resistance with approx. 25% of the offering passed in and withdrawn was enough to generate active trade for Thursday auctions. Most sectors were active and helping most micron indicators into positive territory by auction close. RWS & NM wool was keenly sought again this week with good incentives for best style and strength on offer. Interesting to note that we are experiencing some resistance from international customers as RWS has rallied to seemingly unsustainable levels.
AWEX Eastern Indicator compared with 24/09/2021
Change in % -2.30
If you want to learn more about AWEX indicators, visit the official website http://www.awex.com.au
Authentico Index Values
Change in %: -3.20
Change in %: +1.30
Change in %: +0.40
Change in %: +0.20
Change in %: -2.40
Change in %: -0.11
The outlook for the market in the coming weeks is quite positive. With auction volumes around the 35-40,000 bale mark and growers prepared to hold if prices are not reflective of good value will certainly see the market stay in positive territory. Increased activity from Europe particularly in the high quality fine end of the market is encouraging.
Auction offering – current week
Market Sale Offered Sold Passed In
North S 13 11604 9271 20.1%
South M 13 20389 16259 20.3%
West F 13 7536 5040 33.1%
Auction offering – next week
Market Sale Sale days Volume
North S 14 W / T 12119
South M 14 W / T 23249
West F 14 W / T 6751
If you want to see the complete Wool Sales Roster click here.