AUSTRALIAN WEEKLY MARKET REPORT - The Schneider Group

Comment

Despite a stronger Australian dollar during this period of unsettled currency exchange rates, the Australian wool market has again showed strong resilience even while customer demand is limited. Competition is dominated by the larger Chinese topmakers, buying directly on a commission buying basis. It seems that the market is unlikely to fall much while supply is so limited, and customers are not that urgent to buy. We’re seeing a widening gap between the good VM 1.0 fleece and the types containing more burr. This is a result of reducing supply of light fault wools and a greater availability of high VM fleece. It’s the time of the season. Light fault skirtings are also selling well, mainly into the Chinese market. Crossbred prices continue to trade within a very narrow range from day to day, within each micron group.

AWEX Eastern Indicator compared with 17/05/24

Eastern Indicator

Close: 1130

Change in % -0.4

Authentico Index Values

15 Micron

Close: 3122

Change in %: -2.0

16 Micron

Close: 2102

Change in %: -1.0

17 Micron

Close: 1850

Change in %: -1.6

18 Micron

Close: 1676

Change in %: -2.2

19 Micron

Close: 1566

Change in %: -0.25

Authentico Indicator

Close: 1947

Change in %: -1.6

Forecast

Another small sale next week. The small weekly auction volume is no doubt helping the market to maintain the current levels. We have just 33,000 bales currently listed for sale.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 47	9671	9284	4.0%
South	M 47	19344	18187	6.0%
West	F 47	6421	5718	10.9%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 48	T / W	11039
South	M 48	T / W	22047
West	F 48	T	6233

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