AUSTRALIAN WEEKLY MARKET REPORT

Comment

There was a specialty Tasmanian offering in Melbourne this week that attracted most attention. Fine wool prices were irregular with limited demand with the exception of selected stylish, well tested superfine clips that sold well to some Italian weavers. They were, however, selective. The broader merinos drifted just a little with some regular Chinese companies not attending the sale held during the Chinese New Year period. The market did however rally in their absence with the medium and broader merino types and the crossbreds, all dearer over the last two selling days. This was a very positive market reaction considering the influence that the absence of these two companies may have had.

AWEX Eastern Indicator compared with 09/02/24

Eastern Indicator

Close: 1157

Change in % -0.5

Authentico Index Values

15 Micron

Close: 3215

Change in %: -1.1

16 Micron

Close: 2351

Change in %: -4.1

17 Micron

Close: 1965

Change in %: -2.0

18 Micron

Close: 1770

Change in %: -0.4

19 Micron

Close: 1580

Change in %:  -1.1

Authentico Indicator

Close: 2070

Change in %: -1.9

Forecast

There is a another very suitable fine wool offering from New Zealand to be offered in Melbourne next week. We might expect a higher passed in rate from these clips that have been holding wool since prior to Christmas. The reduced price spread between 17.5 and 21.0 micron at the moment might be making a few think that the finer wools look reasonable value now. Particularly considering that we will have only limited bales available from time-to-time between now and August.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 33	8191	7725	5.7%
South	M 33	23209	20910	9.9%
West	F 33	9072	7982	12.0%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 34	T / W	9107
South	M 34	T / W / T	25088
West	F 34	T / W	9854

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