The offering increased approx. 10% this week which usually would see traders and indent buyers enthusiastic to secure some volume, however this week was not the case as we lost the gains from the previous week. The China covid situation is having an impact on retail sales which could continue leading up to the lunar celebrations of the new year. Shipping scheduling pressure seem to disappear this week, creating a less urgent approach. Less volatility in the Australian dollar. Offers coming in from China, Japan, Europe and India are generally below replacement cost which is causing the slowdown in the market at the moment. Finer microns like 16 and 17 seemed to have equalized with the rest of the market to find a level and traded actively this week. Certified wool still remains in keen demand with good activity and trading above normal levels. 19 to 21 micron still seem to have good demand as they traded more positively than the rest this week.
AWEX Eastern Indicator compared with 25/11/2022
Change in % -2.40
Authentico Index Values
Change in %: -5.20
Change in %: -1.30
Change in %: -2.90
Change in %: -3.00
Change in %: -0.10
Change in %: -2.70
Another increase of 10% in volume will surely test the market next week as traders try to encourage sales at market levels. The shipping scheduling squeeze seems to be over for the xmas period. Panic selling from growers concerned how far this market may come down could increase volumes in sale, however shearing delays are still a reality, as is getting wool off farm and into store for testing. The expectation is that the sales after the recess will have increased volume so why rush in and buy before the recess?
Auction offering – current week
Auction offering – next week
|North||S 23||T – W||11494|
|South||M 23||T – W – T||25689|
|West||F 23||T – W||7592|
If you want to see the complete Wool Sales Roster click here.