Wool auction values have begun the new selling season strongly with prices improving substantially. The volume offered was not as great as anticipated and exporters appeared to be accumulating purchases for prompt shipment. The competition came from the larger Chinese topmakers, and all Chinese types and descriptions were dearer. The European types were less affected and closed largely unchanged. The exception being some selected 16 micron superior types which were keenly sort after. It is also noted in the relatively small movements in our more focused Authentico index values in comparison with the AWEX EMI that covers a more general and wider basket of types.
There was 26% less wool offered this week compared to the same sale last year. This took a few by surprise but supports the notion that growers no longer ‘need’ to sell. Rather, they will wait for the best opportunity.
AWEX Eastern Indicator compared with 30/06/23
Change in % +3.2
Authentico Index Values
Change in %: -4.2
Change in %: +3.3
Change in %: +0.3
Change in %: unch
Change in %: +0.8
Change in %: +0.2
We have just the one sale remaining prior to the annual three-week recess. On the back of the more positive sale this week, we would expect the volume to be offered next week to increase a little when compared to the last estimate. The indicative prices between the various markets is a little more variable from day to day and as the markets align, we will see some adjustments in prices between the sale centres daily.
Auction offering – current week
Auction offering – next week
|North||S 02||T / W||15400|
|South||M 02||T / W||22156|
|West||F 02||T / W||6896|
If you want to see the complete Wool Sales Roster click here.