AUSTRALIAN WEEKLY MARKET REPORT

Comment

Another strong performance in the local wool market. Initially driven by currency factors, the market continued over and above that advantage with the AWEX EMI closing a little over 2.5% higher in USD value. All types and descriptions were dearer overall. The few lots of good quality superfine were not quoted in the overall market but sub 16.0 micron were again very keenly sought after. With around 40,000 bales being offered weekly and the selection deteriorating weekly, those seeking some straight types with low VM are finding it difficult to satisfy their prompt demand.

AWEX Eastern Indicator compared with 19/04/24

Eastern Indicator

Close: 1172

Change in % +1.2

Authentico Index Values

15 Micron

Close: 3186

Change in %: unchanged

16 Micron

Close: 2216

Change in %: +2.6

17 Micron

Close: 1933

Change in %: +1.79

18 Micron

Close: 1719

Change in %: -1.15

19 Micron

Close: 1586

Change in %:  -1.85

Authentico Indicator

Close: 2016

Change in %: +0.6

Forecast

The Western Australian market didn’t finish as strongly as the eastern sales so initially we might expect a steadier market to open with. It will, however, depend heavily on currency exchange rates over the next trading days. There seems a reluctance, from most sectors, to follow the market up, but equally as much resistance on the downside, driven by smaller supply.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 43	9116	8977	1.5%
South	M 43	22171	21058	5.0%
West	F 43	10501	9589	8.7%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 44	T / W	8725
South	M 44	T / W	24211
West	F 44	T / W	8497

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