Local traders are reporting that greasy trading conditions are still good. This is despite the uncertainty regarding ocean freight and related finance delays as well the logistic issues in China as a result of the latest covid-19 situation. This positiveness was evident in the market. It was clear that competition was stronger from the start and this followed through to a good increase in overall market prices on Wednesday.
AWEX Eastern Indicator compared with 29/04/2022
Change in % +1.71
Authentico Index Values
Change in %: unchanged (nil selection)
Change in %: +3.15
Change in %: -0.43
Change in %: +0.3
Change in %: +0.60
Change in %: +0.73
Supply remains limited in volume and limited in terms of the quality available. The offering is broader than what we would expect at this time of the year and, as a result of the season, is containing more vegetable matter than what most commercial contracts can handle. This is creating some disparity in market prices between the lower VM FNF types (Free or Nearly Free) and those fleece lines containing higher VM. It doesn’t mean that the higher VM lines are being neglected, far from it, just that the price gap is greater than usual. Some are seeing more value in using a little more VM than what they would normally use. Currency markets will be closely monitored up until next Tuesday’s sale. We are seeing some fluctuation in the AUD against the USD with speculation on further interest rate rises.
Auction offering – current week
Auction offering – next week
If you want to see the complete Wool Sales Roster click here.