A degree of panic buying emerged this week. There is no shortage of wool in general terms, with broker warehouses still holding more bales than this time last year. However, there is no doubt a shortage of fine wool and these types are more affected by this squeeze than the other types. There is sufficient interest in all wool sub 18.0 micron, but particularly those 16.0 and finer. It’s not just combing merino types but cardings and crossbred wools were also keenly sought after this week. All current buying is for prompt demand and immediate delivery. The better fine types were well supported to the close of sale while the medium and broader merinos fell late in the sale Thursday.
AWEX Eastern Indicator compared with 22/01/2021
Change in % +7.40%
If you want to learn more about AWEX indicators, visit the official website http://www.awex.com.au
Authentico Index Values
Change in %: +11.08
Change in %: +2.51
Change in %: +3.49
Change in %: +5.49
Change in %: +7.59
Change in %: +5.08
We have a few sales in February where we expect a better selection of fine wool. There is a fine wool sale next week in Sydney (WK32) that will offer some selected clips from the Goulburn / Yass district. This is followed by the Tasmanian feature sale in Melbourne (WK33) and a New Zealand offering (WK34) that is expected to offer predominantly fine and superfine types.
The cheaper market in Fremantle on Thursday is expected to flow through to Sydney and Melbourne auctions on Tuesday next week but some expect that the market might not be that bad. For sure it will be cheaper but growers are expected to pass wool in and surely the market sentiment can’t be that much different form one week to the next.
Auction offering – current week
Market Sale Offered Sold Passed In
North S 31 10244 9761 4.7%
South M 31 21053 19756 6.2%
West F 31 8544 8025 6.1%
Auction offering – next week
Market Sale Sale days Volume
North S 32 T – W 13432
South M 32 T – W 24975
West F 32 T- W 8417
If you want to see the complete Wool Sales Roster click here.