AUSTRALIAN WEEKLY MARKET REPORT
There was little change in the market again this week. The market seems almost in a holding pattern awaiting the next significant move. Best fine wool prices are a little less extreme but in general the market closed around similar levels to those of last week. Next week’s Sydney sale is a designated superfine sale and we tend to get more of the finer hogget’s coming onto market from now through to November.
The crossbred market remains in a poor state with the 28.0 and 30.0 micron AWEX MPG’s at the lowest point now for the past five years.
AWEX Eastern Indicator compared with 08/10/2021
Change in % -1.19
If you want to learn more about AWEX indicators, visit the official website http://www.awex.com.au
Authentico Index Values
Change in %: -4.13
Change in %: -1.08
Change in %: -1.29
Change in %: -1.45
Change in %: -0.16
Change in %: -1.61
No doubt many are watching the AWEX EMI in both AUD and USD. Since mid-August there seems to be a low point that gains more trading support. It’s almost a ‘buy in’ level. Since then, the EMI has moved upwards from around the current level (1320/1330) but not below. In USD the trade range has been narrower and sitting constantly around 970 where it is sitting today. Customers are following this and seem reluctant to buy when in an upward trend, but more confident to buy when around today’s level. The usual late October spike could well yet happen but external factors this season do appear a little different. Perhaps the risk that it will occur is keeping client interest around these levels in fear of perhaps missing out.
Auction offering – current week
Market Sale Offered Sold Passed In
North S 15 10871 9468 12.9%
South M 15 22108 19358 12.4%
West F 15 7072 5672 19.8%
Auction offering – next week
Market Sale Sale days Volume
North S 16 T / W 10694
South M 16 T / W 21022
West F 16 T / W 6309
If you want to see the complete Wool Sales Roster click here.