AUSTRALIAN WEEKLY MARKET REPORT

Comment

Best fine wool, all cardings and the crossbred types were all keenly sought after this week. The market indicators were generally easier but it’s nice to focus on these few positives this week. Good style and specification fleece wool 16.5 micron and finer remained very firm, in fact the few bales around 15.0/16.0 micron were dearer, particularly if non mulesed. This is reflected in our Authentico index’s which for the fine types, performed better than the average market. Good crossbreds were firm and the cardings were all dearer.

AWEX Eastern Indicator compared with 15/05/2020

Eastern Indicator

Close: 1155

Change in % -2.04

If you want to learn more about AWEX indicators, visit the official website http://www.awex.com.au

Authentico Index Values

15 Micron

Close: 2340

Change in %:  +1.97

16 Micron

Close: 2040

Change in %:  unchanged

17 Micron

Close: 1751

Change in %: -1.64

18 Micron

Close: 1601

Change in %: -1.78

19 Micron

Close: 1469

Change in %: -2.72

Authentico Indicator

Close: 1795

Change in %: -0.72

Forecast

We are often observing the cardings (locks, crutchings, stains etc) and the crossbred fleece wool move in advance of the general market. These types are usually the first to move when the market sentiment is changing. Cardings in particular are at the lowest price point for years and supply is limited. It’s a lower risk to buy the cheaper types that are in small supply. The price comparison with these types to the merino fleece and skirtings will be keenly watched now. There might be some value in the merinos around this level.

Auction offering – current week

Market          Sale          Offered             Sold       Passed In

North                      S 47                     6302                         5533                12.2%

South                     M 47                    10417                         9212                11.6%

West                       F 47                      4382                         3710                15.3%

Auction offering – next week

Market          Sale          Sale days          Volume

North                      S 48                         T                                5576

South                     M 48                       T-W                           10249

West                        F 48                         W                              4534

 

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