Week 37 saw a resurgence of better prices for superfine merino 16.5 micron and finer this week, especially certified RWS, NM/CM all showing gains of between 2.5 and 4 % which was against the trend of the broader microns this week.
WHY? We are seeing good demand for the top end weaving and spinning clients eager to buy what is left of the higher quality wool available through this part of the season which is showing signs of deteriorating style and character due to the seasonal conditions. Chinese indent business still leads the way, adding pressure to need for the lower vm wools at this time of the year.
Shipping and finances are still a big concern as exporters try to maneuver their way through this difficult landscape as the market maintains its composure.
AWEX Eastern Indicator compared with 04/03/2022
Change in % -0.4
If you want to learn more about AWEX indicators, visit the official website http://www.awex.com.au
Authentico Index Values
Change in %: +4.0
Change in %: +2.5
Change in %: +0.5
Change in %: -2.0
Change in %: -0.4
Change in %: +0.80
Another large volume available nationally next week with 48,000 bales on offer which will definitely test the resolve of exporters and processors alike with the volatile A$ bouncing between 71 and 74 US will certainly make things interesting. The selection is heavily weighted with a large offering in Room 2 skirtings, crossbred and oddments, however this is an area of the market that has been showing good demand and stability.
Seasonal conditions, delays in shearing and continuous wet weather are playing there part in helping the market at this point.
Auction offering – current week
Auction offering – next week
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