AUSTRALIAN WEEKLY MARKET REPORT

Comment

A softening market trend this week in a another very disappointing offering. The impact of the drought on quality and quantity so far this season has been immense. Only 33,000 bales were offered and, on both days, the average market eased a little. The few better lines are attracting competition from a wider range of buyers and are clearly less affected. The EMI lost only 8c this week as crossbred wools continue upward with Chinese demand for these types outweighing supply.

AWEX Eastern Indicator compared with 02/05/2019

Eastern Indicator

Close: 1952

Change in % +0.41%

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Schneider Indicators compared with 02/05/2019

 15 Micron

Close: 2,672

Change in %: 0.00

↑ 16 Micron

Close: 2,456

Change in %: 0.16%

↑ 17 Micron

Close:  2,385

Change in %: +0.75

↓ 18 Micron

Close: 2,290

Change in %: -1.40

↑ 19 Micron

Close: 2,209

Change in %: +0.36

 

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.

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Forecast

The general cautious tone across the wool industry isn’t necessarily playing out in the same way on greasy wool prices. It’s been a very difficult trading period. Wool prices are lower, yet relatively stable when considering the reduction in enquiry from our customers. Perhaps this is now starting to change the thought process of those who either need some wool for prompt production or prepare for the new season.

Auction offering – current week

Selling Centres for week 45

Market          Sale          Offered             Sold       Passed In

North                    S 45                      8005                       7303                   8.8%

South                   M 45                     18367                      16006                 12.9%

West                     F 45                      6429                        5267                   18.1%

 

Auction offering – next week

Market          Sale          Sale days          Volume

North                   S 46                        W-T                             8556

South                   M 46                       W-T                            18726

West                     F 46                        W-T                             6079

 

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