AUSTRALIAN WEEKLY MARKET REPORT - The Schneider Group

Comment

A short term rally in the currency this week had a definite dampening effect on the market with most categories finishing the week marginally weaker. High quality certified wools went against this trend again this week as buyers and traders search for quality product to meet clients demands. As we move toward a three week recess in sales the pressure will be on for exporters to fill orders and meet shipping schedules prior to the break. China remains very active both indent buying and greasy trading with healthy volumes, whilst Europe remains quiet for the short term as the European financial year comes to a close. India continues with steady volume and Japan is starting to see an emerging market in the broader qualities. The shipping glitch we had recently with DP World was swiftly rectified and very little disruption to wool exports had little or no impact on the market. The large volume uniform orders for China remain in place and help support the market at the current basis.

AWEX Eastern Indicator compared with 24/11/23

Eastern Indicator

Close: 1166

Change in % -0.40

Authentico Index Values

15 Micron

Close: 3334

Change in %: -0.10

16 Micron

Close: 2350

Change in %: +1.30

17 Micron

Close: 1933

Change in %: +0.60

18 Micron

Close: 1729

Change in %: -0.50

19 Micron

Close: 1574

Change in %: -1.20

Authentico Indicator

Close: 2059

Change in %: +0.20

Forecast

Another large offering next week with almost 50,000 bales on offer, however it is heavily weighted to crossbred and carding wool. This will certainly keep the pressure on the merino section as buyers continue to secure volume prior to the xmas recess. Shearing patterns have been ahead of schedule in recent months, however this weeks extreme weather patterns up and down the eastern seaboard bringing flash flooding, storm force winds may affect receivals in the coming weeks after the recess period. The expectations after the recess are for a steady market until Chinese new year.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 22	12805	12058	5.8%
South	M 22	24553	22402	8.8%
West	F 22	9550	7999	16.2%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 23	T / W	11150
South	M 23	T / W / T	28124
West	F 23	T / W	8643

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