AUSTRALIAN WEEKLY MARKET REPORT - The Schneider Group

Comment

The wool market this week has offered some interesting scenarios. Finishing the week in very positive territory driven by good demand in merino combing types, both European and Chinese. A volatile currency assisted this week with global financial developments and how this will influence the AUD against other major currencies will be interesting to see how that will affect prices in the coming weeks. Supply is another factor to consider with no Fremantle sale next week, may have triggered exporters into finishing containers to speed up the shipping process. Fine wool demand has been a major focus this week with less interest for inferior fine wool types destined to China. Good to see market separation between best style certified wool and the inferior style taking style, strength and CVH (processing performance) parameters to a new level.

AWEX Eastern Indicator compared with 10/06/2022

Eastern Indicator

Close: 1467

Change in % +2.0

Authentico Index Values

15 Micron

Close: 4108

Change in %: +1.50

16 Micron

Close: 3521

Change in %: +2.60

17 Micron

Close: 3053

Change in %: +4.10

18 Micron

Close: 2432

Change in %: +2.10

19 Micron

Close: 1928

Change in %: +2.10

Authentico Indicator

Close: 2953

Change in %: +2.80

Forecast

Where are we heading? A very small National offering next week will definitely impact the market in a positive way with the current demand and opportunistic volatile market and currency. Quality and volume will definitely dictate the term over the next couple of weeks as we close out the current season and look for bigger volume to be offered during week 01 & 02. Will rising interest rates affect the market ? Will the volatile currency affect the market ? The resilience of the wool market in the past twelve months has been extraordinary, lets hope it is sustainable.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 50	9254	8578	7.3%
South	M 50	17259	15277	11.5%
West	F 50	8844	7978	10.0%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 51	T-W	11461
South	M 51	T-W	19349
West	F 51	NO SALE

If you want to see the complete Wool Sales Roster click here.