The market rebounded nicely this week with a firming trend and more widespread competition at the lower basis. All merino fleece types closed around 1% dearer, with some better descriptions up to 2%. 17.0 micron and finer were most affected. Prices remained within this trend until the close in Fremantle.
AWEX Eastern Indicator compared with 07/08/2020
Change in % -0.2
If you want to learn more about AWEX indicators, visit the official website http://www.awex.com.au
Authentico Index Values
Change in %: +0.14
Change in %: +2.64
Change in %: +0.49
Change in %: +0.28
Change in %: +1.27
Change in %: +0.92
Sydney and Fremantle auctions will proceed next week as per roster. However, the Victorian Government has ruled that ‘auction houses’ in Melbourne are (now) not considered to be a ‘permitted activity’ during the current level 4 lock-down restrictions. Discussion are ongoing with the Victorian State Government for clarity and final advice on the previous permitted industry status. It is important to note that wool valuing and appraisal of the samples is considered a permitted activity and can continue. The National Auction Selling Committee (NASC), represented equally by buyers and sellers, has ruled that unless ‘permitted activity’ status is granted by close of business Monday, then Melbourne sale 8 will be sold over three days (Tuesday, Wednesday and Thursday) as an online open cry auction via zoom.
The three-day schedule would be implemented to reduce the number of lots / bales to be offered each day, allowing buyers and brokers to adjust to this alternative selling method.
The New Zealand Merino Company will offer 200 lots of crossbred wool at the completion of the Australian offering in Melbourne. Under these circumstances, this is a decision that’s hard to understand.
Auction offering – current week
Market Sale Offered Sold Passed In
North S 07 8704 7781 10.6%
South M 07 16092 14901 7.4%
West F 07 5476 5101 6.8%
Auction offering – next week
Market Sale Sale days Volume
North S 08 T / W 8299
South M 08 T / W 21097
West F 08 W 5856
If you want to see the complete Wool Sales Roster click here.