AUSTRALIAN WEEKLY MARKET REPORT - The Schneider Group

Comment

It was a softer market this week. The large trading houses and topmakers were a little quieter to start the sale. Economic news coming from China is not providing the necessary confidence to stimulate trading activity and Europe is largely on holidays. Trading conditions are difficult, as they often are at this time of the season, and this is causing prices to ease slowly. The market was probably better than expected last week, but it failed to materialise into stronger prices in week 07. While only in small supply, the best superfine wool 15.0 micron and finer, is attracting strong buyer support. The AWEX EMI was less affected than our Authentico Index values primarily because the AWEX EMI includes crossbreds and cardings. The crossbred market, while at low levels, is improving and buyers are indicating that they can trade these types. It was also notable that there was some slightly better interest in the cardings. The market for carbonised products has been poor, but maybe we’re starting to see some interest from customers at these new levels.

AWEX Eastern Indicator compared with 11/08/23

Eastern Indicator

Close: 1163

Change in % -1.1

Authentico Index Values

15 Micron

Close: 3465

Change in %: -2.4

16 Micron

Close: 2491

Change in %: -5.0

17 Micron

Close: 2039

Change in %: -2.9

18 Micron

Close: 1765

Change in %: -3.2

19 Micron

Close: 1582

Change in %: -3.0

Authentico Indicator

Close: 2144

Change in %: -3.4

Forecast

We have a smaller offering next week with no sale in Fremantle. Less than 40,000 bales are expected to be available. The various wool industry associations will converge on Melbourne on Thursday to recognise Wool Week. All of the various associations will hold their Annual General Meetings and a combined dinner will be held to celebrate Wool Week on Thursday evening.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 07	15932	14318	10.1%
South	M 07	22826	20297	11.1%
West	F 07	7609	6683	12.2%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 08	T / W	13194
South	M 08	T / W	26768
West	F 08	no sale

If you want to see the complete Wool Sales Roster click here.