Australian Weekly Market Report
Published March 8, 2019 by Tim Marwedel
The market seems to be in a holding pattern at the moment while the broader industry stops to absorb the market trend and, in particular, the level of price. Demand is no doubt more subdued from the spinners and weavers but the buyers, topmakers and trading companies are also well aware of the supply situation which is likely to deteriorate over the coming weeks. Most types and descriptions were a little easier but this was heavily influenced by the larger proportion of more inferior quality types available. The market movement was more pronounced in USD with the AWEX EMI easing by 1.8% in USD terms. This has a major influence on the mentality of our major wool trading partner, China, and will no doubt play some importance on their attitude towards buying over the coming weeks.
AWEX Eastern Indicator compared with 01/03/2019
Change in %: -0.39%
If you want to learn more about AWEX indicators, visit the official website http://www.awex.com.au
Schneider Indicators compared with 01/03/2019
Change in %: -1.86
Change in %: -3.79
Change in %: -2.30
Change in %: -0.67
Change in %: +4.55
Each indicator is expressed by a number representing a market quotation for a selected range of types and is not a price expression and it’s not influenced by currency fluctuations.
Wool indicators are anyway based on Australian Dollar.
If you want to learn more about SCHNEIDER indicators Click here.
The lower price could be a positive for Chinese customers but while the market eases in USD terms, we expect some caution will prevail. We do however think that the downside risk, at least in the short term, will be minimal due to supply. This is particularly notable for our better types which are in very small supply. Just a few lots, a small offering per day are suitable for our Italian weaver clients.
Auction offering – current week
Selling Centres for week 36
Market Sale Offered Sold Passed In
North S 36 10710 10093 5.8%
South M 36 26205 24161 7.8%
West F 36 8215 6912 15.9%
Auction offering – next week
Market Sale Sale days Volume
North S 37 W-T 8763
South M 37 W-T 22626
West F 37 W-T 10333
If you want to see the complete Wool Sales Roster click here.