AUSTRALIAN WEEKLY MARKET REPORT - The Schneider Group

Comment

Buyer interest was again around 19.5 and 21.0 micron with the Chinese market focusing in this area. Currency movement including Chinese Renminbi, cautious demand, aggressive selling prices and a relative stable market for 19.0 micro and broader have all made for a difficult trading period in recent weeks. History will have a few a little nervous as well. We do often see an improvement in market sentiment during October. But these are not ‘normal times’. We did note some falls in the fine wool market. Interestingly this was more on the European types as price premiums for the best lots has reverted to more sustainable levels. The average Chinese specification fine wool types were much less affected because they had already seen some correction in recent months. The supply of the best fine wool types is better during this period of the season and demand, at least at the higher price level, is limited to European and mainly Italian interests and topmakers. While not all focused on NM and CM, they are certainly favouring these clips.

AWEX Eastern Indicator compared with 02/09/2022

Eastern Indicator

Close: 1319

Change in % -0.82

Authentico Index Values

15 Micron

Close: 3875

Change in %: +0.20

16 Micron

Close: 3267

Change in %: -2.59

17 Micron

Close: 2755

Change in %: -5.0

18 Micron

Close: 2132

Change in %: -5.1

19 Micron

Close: 1785

Change in %: -1.1

Authentico Indicator

Close: 2686

Change in %: -3.4

Forecast

Volume available for sale is already easing. We did see some larger sales either side of the mid-year recess. Growers, we think, were looking to take advantage of a stable market in uncertain global times. We continue to have growers more willing to hold wool when the market is not in their favour. This will continue to help market stability in the long run.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 10	11877	10607	10.7%
South	M 10	17835	16223	9.0%
West	F 10	5213	4607	11.6%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 11	T – W	10958
South	M 11	T – W	21482
West	F 11	T – W	7279

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