AUSTRALIAN WEEKLY MARKET REPORT

Comment

This week’s sale has highlighted the current market status. There is no particular urgency for anyone to buy wool, yet most sectors are actively buying. Price is the main driver and following a few weeks of slightly improving prices, they have generally settled a little this week. Buyers, traders and topmakers are all buying only what they need for prompt enquiry. This is despite just 25,000 bales being on offer. The very small selection of sub 15.0 micron wool on offer, continues to attract keen competition.

AWEX Eastern Indicator compared with 14/06/24

Eastern Indicator

Close: 1160

Change in % -0.8

Authentico Index Values

15 Micron

Close: 3097

Change in %: +1.5

16 Micron

Close: 2188

Change in %: -1.7

17 Micron

Close: 1875

Change in %: -0.6

18 Micron

Close: 1712

Change in %: -0.6

19 Micron

Close: 1594

Change in %:  -1.3

Authentico Indicator

Close: 1983

Change in %: -0.6

Forecast

We have just the one sale of the current wool selling season remaining. All eyes during the week might yet be on the volume for sale 1, the first week of July. This sale can often see a spike in volume as growers wait to sell in the new financial year. However, the most recent estimate for sale 1 is similar to that which will be on offer next week (week 52) and around 38,000 bales nationally.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 51	11251	10510	6.6%
South	M 51	16239	14808	8.8%
West	F 51	no sale

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 52	T / W	11189
South	M 52	T / W	20797
West	F 52	T / W	8217

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