AUSTRALIAN WEEKLY MARKET REPORT - The Schneider Group

Comment

A great opportunity this week to promote the workings of the wool industry, as a wool auction was held at the Sydney Royal Easter Show, run by the Royal Agricultural Society. Held in the Sheep and Wool Pavillion, it provided a platform where stud breeders, wool exporters, and the general public who have never seen a wool auction take place understand how important the agricultural sector is. With multimillions of dollars spent every auction day, as international companies compete to buy wool for their valued clients around the globe. Once again the overall market finished in negative territory, however the shining light was 16 micron euro spec wool which finished the week in positive territory. Despite the low demand period we are experiencing, there was keen competition and very good clearance rates as growers are prepared to meet the market. Large Chinese indent buyers continue to accumulate volume, helping support the market through this period. Trading exporters are still finding it difficult to trade as overseas buyers continue to look for value in this time of low demand. We must continue to educate and market to the next generation of the incredible properties of wool garments, particularly casual wear.

AWEX Eastern Indicator compared with 22/03/24

Eastern Indicator

Close: 1142

Change in % -0.90

Authentico Index Values

15 Micron

Close: 3161

Change in %: -3.0

16 Micron

Close: 2199

Change in %: +2.3

17 Micron

Close: 1864

Change in %: -2.0

18 Micron

Close: 1666

Change in %: -2.0

19 Micron

Close: 1553

Change in %: -1.7

Authentico Indicator

Close: 1970

Change in %: -1.3

Forecast

Next week the wool market is in RECESS, and will resume week commencing 8th April, 2024. Hopefully a chance for exporters to trade more positively and return with some good orders to start back. Volumes a surely not going to change in the short term, giving confidence to traders to sell into volume in the coming weeks.

Happy Easter.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 39	12817	12286	4.1%
South	M 39	22210	20178	9.1%
West	F 39	9410	8486	9.8%

Auction offering – next week

Market	Sale	Sale days	Volume
North	RECESS
South	RECESS
West	RECESS

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