AUSTRALIAN WEEKLY MARKET REPORT

Comment

The market closed on a very positive note. Buyer confidence was more widespread, and they competed stronger towards the close of the sale. All types and descriptions seemed to be in favour with buyers seemingly building inventory. Perhaps the realisation that we have just the one more sale prior to the three-week recess. Following the sale next week, auctions will not resume until mid-August.

AWEX Eastern Indicator compared with 12/07/24

Eastern Indicator

Close: 1107

Change in % unchanged

Authentico Index Values

15 Micron

Close: 3101

Change in %: -1.5

16 Micron

Close: 2128

Change in %: -0.5

17 Micron

Close: 1797

Change in %: -0.4

18 Micron

Close: 1656

Change in %: +1

19 Micron

Close: 1532

Change in %:  -0.7

Authentico Indicator

Close: 1925

Change in %: -0.3

Forecast

The past month has been a very difficult period with the market easing slowly each week. It was a very positive sign this week. Perhaps we are close to the bottom. All other commodity prices in Australia remain quite strong and unless wool prices improve, the farmer sentiment towards wool production will continue to deteriorate and annual wool production will fall further.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 03	11916	11197	6.0%
South	M 03	15603	14028	10.1%
West	F 03	no sale

Auction offering – next week

Market	Sale	Sale days	Volume
North	S 04	T / W	11515
South	M 04	T / W	16398
West	F 04	T	5651

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