Sales have opened positively for 2023. There was some caution expressed by buyers leading into the sale with subdued trading conditions over our New Year period. Our Chinese customers were quietly active over the recess as they dealt with the spread of covid amongst family and staff members. Historically, January wool auctions are positive and 2023 has started on a similar tone, albeit with some initial caution. The trade interest was more focused on the 18.5 micron and finer range and prices in this range improved. This is a change in market focus since late 2022 when the main interest was on the selection of 19.0 micron and broader types. In the end the market performed better than most expected.
AWEX Eastern Indicator compared with 16/12/2022
Change in % +0.4
Authentico Index Values
Change in %: -0.7
Change in %: +4.2
Change in %: +2.6
Change in %: +1.6
Change in %: -0.1
Change in %: +2.0
Another sale of 50,000+ bales will be on offer next week. Despite these reasonable numbers, the offering is more variable than what we can remember in recent times. It’s difficult for buyers to build volume of similar types and this is influencing the overall market. The selection has been influenced by the better growing season and the late rain period of 2022. The volume of good fine wool is extremely limited and while we do expect some in February, the main volume has no doubt been sold.
The reduced tariff (to zero) for greasy wool exports to India recently introduced, will no doubt offer improved terms for our second largest export customer in terms of volume.
Auction offering – current week
Auction offering – next week
|North||S 29||T / W||14292|
|South||M 29||T / W / T||28580|
|West||F 29||T / W||8331|
If you want to see the complete Wool Sales Roster click here.