AUSTRALIAN WEEKLY MARKET REPORT
Sales resumed this week following the Easter recess and a large national offering was put forward to the trade. The initial volume did certainly raise some premarket concerns while at the same time we had a strengthening Australian dollar against the USD. We did hear some reports of small but regular greasy wool trading business with the usual customers. However, it wasn’t expected to be enough to hold the large volume on offer and stop the market from easing. Prices did open lower but, as we’ve seen regularly in recent times, they were not as bad as expected. With 53,000 bales on offer, the market did exceptionally well to hold, adding further confidence to support the market around these levels in the short to medium term.
AWEX Eastern Indicator compared with 07/04/23
Change in % -0.8
Authentico Index Values
Change in %: +5.0
Change in %: +2.5
Change in %: -2.0
Change in %: -2.3
Change in %: -2.4
Change in %: +0.3
The volume available for sale next week is currently listed at a far more manageable level. With the selection continuing to deteriorate, particularly with regards to higher vegetable matter, then we expect good light fault types to remain keenly sought after. Sales will be held on Wednesday and Thursday next week with Australia and New Zealand celebrating ANZAC day with a public holiday on the 25th.
Auction offering – current week
Auction offering – next week
|North||S 43||W / T||9648|
|South||M 43||W / T||24727|
|West||F 43||W / T||10526|
If you want to see the complete Wool Sales Roster click here.