Buyers were understandably cautious ahead of another large national offering and the opening result showed. All prices eased in the first hour of sale but demand slowly but surely improved over the course of the week. The relative stability in the market is creating significant confidence despite the global uncertainty. We collect the AWEX MPG (micron Price Guide) values and compare them to the rolling average over set periods of time. The current 19.0 MPG is 1682, the six month average is 1683, and the twelve month average is 1678. Interesting figures. In the 20.0 MPG, the figures show similar trends. 1388 is current, 1392 is six month average and 1385 is the twelve month average. In the finer types, the current strength has them ahead of the six and twelve month averages now, but the gap is closing. This is providing a level of certainty for all through the pipe line.
AWEX Eastern Indicator compared with 25/03/2022
Change in % -0.65
Authentico Index Values
Change in %: unchanged
Change in %: -0.49
Change in %: -1.0
Change in %: -1.63
Change in %: -1.55
Change in %: -0.94
While the focus is definitely on the better wools, the more inferior wools are being dragged along as well. There is no argument that the market is exceeding all expectations. Growers have become very aware when to sell and not to sell and they are showing a strong resistance to sell in a falling market. This is definitely influencing the stability of price across the full range of types.
Auction offering – current week
Auction offering – next week
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