Australian Weekly Market Report
Published June 29, 2018 by Tim Marwedel
General Market Summary
The market opened cautiously on Wednesday and as a result the auction passed-in rate was sitting around 16% for merino fleece in the first hour. However, confidence quickly improved and buyer pressure returned resulting in most prices ending Wednesday’s sale fairly close the levels of the previous week. On average they were lower but the prices seen towards the end of sale were better than that. As a result, the passed in rate also fell to around 10% average for the day. Fremantle auction prices ended stronger than Sydney and Melbourne leading to what was to be a fairly strong market Thursday. There was little change in price for any better specification wool.
AWEX Eastern Indicator compared with 21/06/2018
Change in %: -0.82%
If you want to learn more about AWEX indicators, visit the official website http://www.awex.com.au
Schneider Indicators compared with 21/06/2018
Change in %: –
Change in %: -0.13
Change in %: +0.41
Change in %: -0.04
Change in %: -0.04
(*) Marketed from September to March
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 new wool season starts next week. Apart from a little extra volume, 43,000 bales, we don’t expect any change in the quality of the offering just yet. This is not expected to change until we return in August and September. AWEX report that the benchmark EMI increased by almost 35% for the year (June ’17 to July ’18). It has been a remarkable market run.
The Pitti Filati fair is currently being staged in Florence. Pitti Filati showcases yarns to international buyers and designers and presents new trends in yarns on a global scale to the fashion world. The Schneider Group has been present at the fair and we report that a very positive sentiment for wool remains and this is excellent news for the industry.
Auction offering – current week
Auction offering – next week
If you want to see the complete Wool Sales Roster click here.