The Schneider GroupAUSTRALIAN WEEKLY MARKET REPORT
Comment
It was a much more positive week this week in terms of auction results. All types and descriptions were either firm or tending dearer in a large national offering. For us, the focus was on the first small, but high quality, superfine offering. The quality so far is very good yet not so fine at this stage. The selection will get a little finer as we move towards November. With the ultrafine types (<15.5 micron) still attracting strong results in an otherwise fairly lackluster market, we expect growers to move these bales onto the market as soon as possible.
The sale trend was positive from the outset. Reports of some business last weekend had buyers expecting a price squeeze, particularly on Chinese types around 19.5 micron. The medium-term outlook has not changed, and trading margins are very tight, so this kept the market around about the same levels on Wednesday.
AWEX Eastern Indicator compared with 25/08/23
Eastern Indicator
Close: 1131
Change in % +0.4
Authentico Index Values
15 Micron
Close: 3501
Change in %: +1.4
16 Micron
Close: 2590
Change in %: +1.6
17 Micron
Close: 2018
Change in %: +1.7
18 Micron
Close: 1731
Change in %: +1.6
19 Micron
Close: 1569
Change in %: -0.1
Authentico Indicator
Close: 2150
Change in %: +1.5
Forecast
There just seems a little more trading interest at the moment, but while the global economic outlook remains uncertain, we could see some more price volatility in the next few weeks. Exchange rates will surely play a part in the market result.
Auction offering – current week
| Market | Sale | Offered | Sold | Passed In |
| North | S 09 | 13560 | 12302 | 9.3% |
| South | M 09 | 21015 | 18833 | 10.4% |
| West | F 09 | 10115 | 8581 | 15.2% |
Auction offering – next week
| Market | Sale | Sale days | Volume |
| North | S 10 | T / W | 12269 |
| South | M 10 | T / W | 26869 |
| West | F 10 | T / W | 6399 |
If you want to see the complete Wool Sales Roster click here.
The Schneider Group