AUSTRALIAN WEEKLY MARKET REPORT

Comment

The wool market drifted again this week overall, but what is not reflected in the market is the improvement in high quality superfine certified wool. The Italian sector worked hard this week to secure what will be the last smallish offering of these types until Sept/Dec 2024. China indents continue to accumulate volume despite fluctuations in the currency and the poor economic data coming out of China that consumer spending has slowed. Slightly improved activity in Japan and India also playing a part to shape the market. Growers are inclined to be sellers with only 9.8% passed in this week.

AWEX Eastern Indicator compared with 02/02/24

Eastern Indicator

Close: 1163

Change in % -0.10

Authentico Index Values

15 Micron

Close: 3250

Change in %: -1.70

16 Micron

Close: 2453

Change in %: +1.80

17 Micron

Close: 2005

Change in %: -2.90

18 Micron

Close: 1777

Change in %: -0.30

19 Micron

Close: 1598

Change in %:  -0.90

Authentico Indicator

Close: 2110

Change in %: -0.90

Forecast

Another large weekly offering of 43,000 bales will surely test the market in the current conditions. Next week we have an outstanding offering of Tasmanian superfine wool which will be keenly sought after if this week is an indication.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 32	10760	9967	7.4%
South	M 32	20094	17968	10.6%
West	F 32	7957	7060	11.3%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 33	T / W	8407
South	M 33	T / W / T	25533
West	F 33	T / W	9684

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