AUSTRALIAN WEEKLY MARKET REPORT
Prices eased across the board on Tuesday following the strong performance last week. Leading into the sale, there wasn’t the trade confidence that we’d seen in the past couple of months. The negative sentiment was, however, short lived. Prices stabilised over the remaining two sale days. According to AWEX reports, it was the largest weekly offering in three years. This shows the relative strength and maturity of the market. Growers again showed their reluctance to sell in a falling market. Around 16% of the national offering, more in Fremantle, was passed in after failing to meet grower pre-sale expectations. The feature of this week’s sale was approximately 5,000 bales offered in Melbourne as part of the annual Tasmanian feature sale. This was a good opportunity for Italian interests, us included, to secure some volume for our European customers. There will be limited opportunities for good fine wool from March onwards. These specialty wools attracted good competition from a range of buyers.
AWEX Eastern Indicator compared with 10/02/2022
Change in % -1.86
Authentico Index Values
Change in %: -7.3
Change in %: -0.8
Change in %: -0.5
Change in %: -2.8
Change in %: -2.4
Change in %: -2.3
With another large sale rostered for sale next week, AWEX have reported that these two consecutive weeks will provide the largest two week offering that we’ve had in 12 years. It will be a strong performance if the market is able to absorb this volume. With some grower reserves, the market will likely remain within a relatively narrow range like it did this week. This should go a long way to installing some market confidence for the next few months.
Auction offering – current week
Auction offering – next week
|North||S 34||T / W||13757|
|South||M 34||T / W / T||33309|
|West||F 34||T / W||10255|
If you want to see the complete Wool Sales Roster click here.