The Australian wool auction market has remained extremely resilient in recent weeks under the circumstances and this week was no exception. With 49,400 bales up for sale, almost 90% were sold to the trade with a value of $71.65 m. There is pressure mounting on vegetable matter. The outstanding season is resulting in higher VM in the clip and exporters are finding it a challenge to average the required 1.0% for a standard Chinese contract.
The quality of superfine wool on the market is not as good when compared to those on offer through February. This is creating a little more volatility in the 17.5 and finer range. We are finding the Chinese qualities tending to be a little dearer in this range but the better ones are off a little in reduced volume and lower quality.
AWEX Eastern Indicator compared with 04/03/2022
Change in % +0.43
If you want to learn more about AWEX indicators, visit the official website http://www.awex.com.au
Authentico Index Values
Change in %: -0.26
Change in %: -1.56
Change in %: -2.12
Change in %: -2.79
Change in %: -0.32
Change in %: -1.78
Sales will again be held next Wednesday and Thursday with a public holiday falling in Victoria on Monday. As the selection will become heavier in vegetable matter, we expect competition for those fleece lines with less than 1.0% to intensify. Average fine wool will continue to sell well with very welcome premiums being paid for each point of micron. The good season has resulted in a broader national clip in general, and less superfine merino wool on the market. The strong prices have also flushed out grower held stocks in the fine microns so we expect there is also less held in store in this range.
Auction offering – current week
Auction offering – next week
If you want to see the complete Wool Sales Roster click here.