AUSTRALIAN WEEKLY MARKET REPORT - The Schneider Group

Comment

The market held up quite well this week despite a strong rally in the currency, the Chinese indent buyers keep accumulating there regular volumes. With better than expected economic data out of China as they released a stimulus package helping consumers gain a little more confidence. Also good news of the week was an increase in share prices of the Luxury brands which we hope will also create some consumer confidence. USA dropped interest rates also to try and kick start their economy.

Best style and strength wool held its ground this week, including an improvement in prices in Certified wool. The shining light this week was again the sub 15 micron category where we see very strong competition including China, Italy and Japan. Hopefully this is the start of a rally that will help drag the broader microns along for the ride.

Natural Fibre Connect was a great success which saw an audience from all sectors of the Natural Fibre community come together to share information and developments throughout the industry.

AWEX Eastern Indicator compared with 20/09/24

Eastern Indicator

Close: 1087

Change in % unchanged -1.0

Authentico Index Values

15 Micron

Close: 3280

Change in %: +0.9

16 Micron

Close: 2050

Change in %: -0.5

17 Micron

Close: 1807

Change in %: -0.0

18 Micron

Close: 1631

Change in %: -0.7

19 Micron

Close: 1517

Change in %: -1.3

Authentico Indicator

Close: 1921

Change in %: -0.3

Forecast

Next week more the same with approx. 34,000 bales on offer Nationally and very little improvement in news coming from the Nanjing Wool Conference this week. All news seems to be leading us to improved trading conditions Jan 2025 onwards, we look forward to that!!!

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 13	10003	9428	5.7%
South	M 13	16452	14661	10.9%
West	F 13	4607	4203	8.8%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S14	T / W	10050
South	M14	T / W	18550
West	F14	T	5349

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