AUSTRALIAN WEEKLY MARKET REPORT

Comment

With the softer close last week that was leading into a 55,000 bale wool sale, there was no doubt a small degree of caution prior to Tuesday’s sale. While prices were lower, we certainly didn’t see the market as volatile as some. AWEX reports had quite a correction on Tuesday. However, the supply of the best types, particularly 17.5 micron and finer was more restricted and difficult to compare to the bales available last week. We didn’t see the market move so much when comparing good types. This was more evident in Sydney than Melbourne. The lower passed in rate in Sydney is a reflection of this and would indicate a more consistent market than what was recorded. Prices were much more stable in the middle and later part of the week, more of a reflection of our feeling in the sale room. The sale room ‘feeling’ is hard to describe and measure, but it was clear to us that buyers were more confident to buy. They were not as cautious, and prices held very well to finish in Melbourne on a more positive tone.

AWEX Eastern Indicator compared with 12/01/24

Eastern Indicator

Close: 1196

Change in % -1.4

Authentico Index Values

15 Micron

Close: 3446

Change in %: unchanged

16 Micron

Close: 2441

Change in %: +2.8

17 Micron

Close: 2064

Change in %: -1.1

18 Micron

Close: 1811

Change in %: unchanged

19 Micron

Close: 1635

Change in %:  +0.3

Authentico Indicator

Close: 2159

Change in %: +0.3

Forecast

Only 41,000 bales are available nationally next week. When compared to the 55,000 bales initially rostered for sale in week 29, it reflects a 25% reduction in volume in one week. This would certainly have plaid on the minds of buyers during Thursday’s sale. Fine fleece and pieces continue to be those most keenly sought after. They are also in small supply. Buyers are finding it difficult to source anything sub 16.5 micron at the moment.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 29	13704	13085	4.5%
South	M 29	26214	23976	8.5%
West	F 29	9987	8881	11.1%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 30	T / W	9081
South	M 30	T / W	22418
West	F 30	T / W	10234

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