AUSTRALIAN WEEKLY MARKET REPORT
The general softening of the market this week was more pronounced in the medium to broader merinos. The general market tone is still very positive all things considered. But it is also heavily influenced by the large volume of inferior quality. Longer staple length and lower staple strength when added to the increase in VM, has dampened buyer enthusiasm for these more inferior types. But at a price, they are still being sold to the trade. Low VM and good staple strength are the key for increased competition at the moment. The passed in rate, dominated by inferior types, increased as the week progressed with 20% of the offering failing to reach grower expectation on Thursday in Melbourne. The smaller offering of quality fine wool was again keenly sought after and are certainly performing better than expected in small supply. The Authentico indicator includes down to 15.0 micron.
AWEX Eastern Indicator compared with 18/02/2022
Change in % -0.98
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Authentico Index Values
Change in %: +0.11
Change in %: +0.96
Change in %: +0.99
Change in %: +1.05
Change in %: -1.49
Change in %: +0.68
Not until quantities are reduced or the unlikely event that shipping schedules will improve soon, will we see any significant change in the market. We are confident that there is sufficient interest in wool but exporters are not confident to be able to ship it and financial resources continue to dry up.
Auction offering – current week
Auction offering – next week
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