Australian Weekly Market Report

Published April 18, 2019 by Tim Marwedel

Comment

The Australian Market seemed to find a level this week with a range of types and microns varying slightly each way. As with recent weeks we saw no significant change, with the AWEX EMI closing 7c higher than last week. The highlight of the week was the annual sale held at the Sydney Royal Easter show across Tuesday and Wednesday. This event see’s close to 1 million people making the trip to Homebush over the two weeks, bringing new interest into the wool sales and attracting a lot of attention to the industry. A larger offering including a few slightly better style types meant better specification fine wools remained keenly sought after with an evident premium for NM clips still there. The bulk of the offering was similar to recent weeks with low yields. Lower style wools somewhat ‘caught up’ as buyers looked to gain some quantity before the Easter break period. Crossbreds again continued to rise this week particularly in the Northern Region.

 

AWEX Eastern Indicator compared with 11/04/2019

↑ Eastern Indicator

Close: 1943

Change in % +0.36%

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

Schneider Indicators compared with 11/04/2019

↑ 15 Micron

Close: 2,751

Change in %: +1.6

↓ 16 Micron

Close: 2,444

Change in %: -1.35%

↓ 17 Micron

Close:  2,326

Change in %: -1.07

↑ 18 Micron

Close: 2,291

Change in %: +0.44

↓ 19 Micron

Close: 2,194

Change in %: -0.09

 

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.

Forecast

With a one week break from sales now coming up there will be a similar sized sale to this week when we return in Sale 44. Due to seasonal conditions the quality of clips is also expected to be lower than usual as well as continued low yields. However as usual there should remain a number of nice wool’s coming through. With the current Foot and Mouth Disease situation in South Africa not forecast to be resolved in the immediate future it is expected competition for Chinese spec clips to remain steadily firm.

Auction offering – current week

Selling Centres for week 42

Market          Sale          Offered             Sold          Passed In

North                    S 42                      9663                       9115                    5.7%

South                   M 42                     21165                     19249                   9.1%

West                     F 42                       9946                      8210                  17.5%

 

Auction offering – next week

Market          Sale          Sale days          Volume

North                   S 43                      no sale

South                   M 43                     no sale

West                     F 43                      no sale

 

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