AUSTRALIAN WEEKLY MARKET REPORT

Comment

The market closed on a very positive note this week prior to a three week recess. Currency movement in a downward trend was the main instigator this week allowing strong purchasing from Chinese indent buyers. Chinese greasy traders were less active as was Indian indent buying very subdued. A good offering of high quality certified wool on offer this week gained strong support from Italian and Chinese interests. Japan has re-entered the market with consistent support on processed wool types and NM fleece wool.

AWEX Eastern Indicator compared with 19/07/24

Eastern Indicator

Close: 1124

Change in % unchanged +1.50

Authentico Index Values

15 Micron

Close: 3185

Change in %: +2.7

16 Micron

Close: 2149

Change in %: +1

17 Micron

Close: 1843

Change in %: +2.5

18 Micron

Close: 1673

Change in %: +1

19 Micron

Close: 1547

Change in %:  +1

Authentico Indicator

Close: 1958

Change in %: +1.7

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 04	11613	11066	4.7%
South	M 04	15578	14520	6.8%
West	F 04	4769	4198	12.0%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S	RECESS
South	M	RECESS
West	F	RECESS

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