AUSTRALIAN WEEKLY MARKET REPORT
Difficulty remains in keeping the market level currently as a prolonged period of low demand has a grip on the market. The small useful offering of certified wools still reacting the least against a flood of wool outside normal parameters for exporters and traders to source for their regular contracts. Encouraging signs with more active indents buyers from China, India this week, which we hope might be the start of a revival in the market. 18 micron and finer took the biggest hit this week in price retraction, with 18.5 micron and broader slightly better than expected. Grower resistance still not having an impact on the market like we would normally experience with almost 50% of growers passing in their wool in the Western Australian auctions this week. We continue to see an over supply of wool carrying seasonal affects which is also impacting on the market.
AWEX Eastern Indicator compared with 19/05/23
Change in % -3.85
Authentico Index Values
Change in %: +1.30
Change in %: -1.60
Change in %: -1.00
Change in %: -1.60
Change in %: -3.60
Change in %: -1.10
Another big sale week with approx. 47,000 bales nationally which will certainly test the market direction and the enthusiasm of the exporter and traders. Style will continue to play its part as low vm wools are the focus of many as they try to fulfil client orders to specification. Slow demand will certainly again shape the coming weeks. Well prepared certified wool will definitely be rewarded as quality becomes the key issue in a large poorer style offering. Dumping, packing and shipping delays seem to be subsiding and having less of an impact currently.
Auction offering – current week
Auction offering – next week
|North||S 48||T / W||12774|
|South||M 48||T / W||25647|
|West||F 48||T / W||8620|
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