AUSTRALIAN WEEKLY MARKET REPORT
The market was cheaper across the board and with a clearance of only 17,000 bales we are no doubt in a difficult period. Growers still have the possibility to sell if they have the necessity and buyers can deliver against any small commitments that they may have. The situation appears worse in local currency. The Australian dollar is finding favour due to our positive handling of the Covid-19 pandemic. There are only a few reported cases per day nationally and some states and territories have had no reported cases for days on end now. This is seeing improved confidence in the Australian dollar. It’s now trading at 0.655 against the USD, an increase of around 3.8% compared to this time last week. The AWEX EMI in US value was only 2 cents lower over the week.
AWEX Eastern Indicator compared with 24/04/2020
Change in % -3.69
If you want to learn more about AWEX indicators, visit the official website http://www.awex.com.au
Authentico Index Values
Change in %: -1.2
Change in %: -0.70
Change in %: -2.55
Change in %: -2.39
Change in %: -2.37
Change in %: -1.94
While the central west of NSW is now experiencing a considerably better season, we still expect dust penetration to remain an issue for a few months to come. The dust from the drought over the past 12 months is very much penetrating right down the length of the wool staple. The rain doesn’t wash it out. We are hearing unfortunate stories of the dust now turning to mud on the sheep’s back as the rain is continuing to fall. It’s a tough life on the land, and our wool growing friends are doing everything they can to the maintain the best welfare of their animals.
Auction offering – current week
Market Sale Offered Sold Passed In
North S 44 4993 3606 27.8%
South M 44 12520 9637 23.0%
West F 44 5391 3775 30.0%
Auction offering – next week
Market Sale Sale days Volume
North S 45 W 5475
South M 45 T-W 16701
West F 45 T 4748
If you want to see the complete Wool Sales Roster click here.