It seems the positivity coming out of the Nanging Wool Conference was not enough to keep the wool market from slipping gradually this week even with the late rally towards the close of the week. New season wool is starting to roll in and we are seeing some very impressive style and strength in the early stages of the season. For most growers, the wool growing season has been excellent. Vegetable matter is still having an impact on the offering and the talk is for more to come in the coming months. Typically, we would see a drop off in burr at this point of the season. This will make better specification, lighter fault types, a priority for buyers as they aim to meet client specifications.
Sub 15.0 micron were again keenly sort after, but the best lots 15.5 / 17.5 micron were cheaper in a large offering.
AWEX Eastern Indicator compared with 22/09/23
Change in % -0.8
Authentico Index Values
Change in %: -3.4
Change in %: -3.0
Change in %: -3.7
Change in %: -3.4
Change in %: -2.6
Change in %: -3.3
Slightly larger volumes in weeks 14 & 15 will surely test the resolve of the market as we head into week 16 as a designated superfine wool offering in Sydney. General positive talk out of China is expected to see the market move in an upward trend from late September onwards. Some suggestions that Chinese mills are looking for supply to feed their machinery could assist the 19.5/22.5-micron range. Superfine wool is in demand from the European market at the moment which continues to see good support for well-prepared wool clips. However, the clips in this range with an NM mulesing status were certainly favored this week.
Crossbred types, although coming from a very low base, continue to firm and this trend should continue.
Auction offering – current week
Auction offering – next week
|North||S 14||W / T||12716|
|South||M 14||W / T||23194|
|West||F 14||W / T||6205|
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