AUSTRALIAN WEEKLY MARKET REPORT

Comment

There was bidding pressure from a wider range of buyers this week and in a small national offering. In the end, just 31,000 bales were on offer and with the improved market, growers were again more inclined to sell. Competition was driven by the Chinese market, supported by the Indian sector with those representing Italian interests competing on the few better wools on offer. The limited supply will no doubt continue to impact on the market in the short term. Prices have remained very stable for an extended period of time now. And, showing little sign that it will drop below these levels. Currency impact could always be a factor. The inflation rate in Australia is remaining stubbornly high, despite the cost-of-living pressures.

AWEX Eastern Indicator compared with 24/05/24

Eastern Indicator

Close: 1137

Change in % +0.6

Authentico Index Values

15 Micron

Close: 3059

Change in %: -2.0

16 Micron

Close: 2133

Change in %: +1.4

17 Micron

Close: 1862

Change in %: +0.6

18 Micron

Close: 1686

Change in %: +0.6

19 Micron

Close: 1565

Change in %:  -0.1

Authentico Indicator

Close: 1953

Change in %: +0.3

Forecast

Only 27,000 bales on offer next week with no sale in Fremantle, Western Australia. This will likely ensure that market pressure is maintained next week.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 48	8072	7769	3.8%
South	M 48	16998	16026	5.7%
West	F 48	6313	5931	6.1%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 49	T / W	11228
South	M 49	T / W	16998
West	F 49	no sale

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