AUSTRALIAN WEEKLY MARKET REPORT

Comment

A very positive week in the wool market this week where we saw active trading from Europe and China with some weakness in the currency, all played a part in healthy gains across a wide range of merino types. High quality certified wools were again in the spot light attracting the most significant gains for the week. 18.5 micron was the most attractive this week whilst microns either side of this were just steadily improving. We are seeing some excellent quality appearing on the show floor from the early season wool. Bathurst Burr is continuing to present opportunities to traders and processors, with large volumes available on very good quality wool. Shearing delays have all but disappeared, which is assisting length, strength and mid break concerns which have haunted us for the past couple of years. We encourage wool producers to strive for best quality and practices to enhance their chances of maximum competition in the auction.

AWEX Eastern Indicator compared with 13/10/23

Eastern Indicator

Close: 1139

Change in % +1.0

Authentico Index Values

15 Micron

Close: 3420

Change in %: -3.1

16 Micron

Close: 2339

Change in %: UNCH

17 Micron

Close: 1848

Change in %: +1.1

18 Micron

Close: 1643

Change in %: +0.8

19 Micron

Close: 1540

Change in %:  +1.4

Authentico Indicator

Close: 2011

Change in %: +0.05

Forecast

Active trading period with China has sparked a rally in the market. Shipping cut off dates have assisted with this short term rally. Currency weakness is also a factor, but it does appear to more demand coming from our biggest trading partner, China which is encouraging for the next few weeks. Shipping and shearing delays have subsided and assisting the flow of wool into the supply chain. Weekly selling volumes remain consistent which encourages traders to take some cover whilst indent buying remains consistent as processors keep accumulating volume.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 16	10469	10039	4.1%
South	M 16	21029	19955	5.1%
West	F 16	7659	7334	4.2%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 17	T / W	11364
South	M 17	T / W	22339
West	F 17	T / W	8414

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