AUSTRALIAN WEEKLY MARKET REPORT
General market sentiment was tending positive leading into this week’s sale. The result was better than expected but a reflection of continued demand for good specification fine wool in particular. At the same time, the AUD was lower against the USD following nervousness in the share markets. The EMI in USD value is still ranging in the 970/1000 level and this is ensuring solid support from the Chinese market. The lack of good quality fine wool available with NM or CM specification is ensuring that those types remain keenly sought after with Italian and Indian interests most interested.
AWEX Eastern Indicator compared with 21/01/2021
Change in % +1.08
If you want to learn more about AWEX indicators, visit the official website http://www.awex.com.au
Authentico Index Values
Change in %: -1.92
Change in %: +0.95
Change in %: +2.41
Change in %: +0.21
Change in %: unchanged
Change in %: +2.83
Sales are to be held on Wednesday and Thursday next week with auctions delayed for 1 day in recognition of the Chinese New Year. Fluctuations on the currency market, if continuing up and down, could well play a role in the market performance next week. The solid rise on Thursday might be a deterrent for new business in the short term back a general lack of volume available should ensure there is enough competition to maintain prices around this level.
We are expecting a better supply of RWS certified wool on the market in the next few weeks. Quality is expected to be variable. Prices for certified wool in recent weeks, particularly RWS certified, have greatly exceeded market expectations yet we continue to see global demand for certified wool grow rapidly. Not just for better weaving types but for knitting and all carding types as well. We continue to play our role in the growth of RWS supply through offering RWS certification for audited growers via our Authentico farm group. Interested growers should speak to their broker to discuss their eligibility.
Auction offering – current week
Market Sale Offered Sold Passed In
North S 30 10569 9572 9.4%
South M 30 20916 19279 7.8%
West F 30 11309 10207 9.7%
Auction offering – next week
Market Sale Sale days Volume
North S 31 W / T 8892
South M 31 W / T 23195
West F 31 W / T 9703
If you want to see the complete Wool Sales Roster click here.