AUSTRALIAN WEEKLY MARKET REPORT

Comment

We were pleased to see some good competition on the better 17.5/18.0 micron clips this week. Despite the lower market, these types were attracting better competition than the more average types. The sales that traditionally offer more fine wool are fast approaching. This week was one, but the supply was still very limited. Perhaps an indication that we will no longer see the volume of good fine wool on the market from week to week. Actual micron is not yet very fine either. There were just a few bales finer than 16.0 micron at this stage. Competition on the tender fleece and good skirtings is perhaps stronger than the long fleece wools. Chinese interests are dominating this sector.

AWEX Eastern Indicator compared with 23/08/24

Eastern Indicator

Close: 1087

Change in % unchanged -2.3

Authentico Index Values

15 Micron

Close: 3114

Change in %: +2.4

16 Micron

Close: 2061

Change in %: +0.1

17 Micron

Close: 1803

Change in %: -1.4

18 Micron

Close: 1638

Change in %: -1.3

19 Micron

Close: 1530

Change in %:  -1.6

Authentico Indicator

Close: 1909

Change in %: -0.5

Forecast

The poor market and the general lack of confidence is turning growers away. Next week’s national offering is around 33,000 bales. This is surprising considering it’s only the 3rd week following the four-week recess. The lower supply will help the market to stabilise and to provide much needed confidence. Interestingly, the latest production forecast is pointing towards a decline in production by around 10% for the 2024/2025 season. Poor growing conditions in much of southern Australia is the main reason provided.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 09	11668	10744	7.9%
South	M 09	20716	18281	11.8%
West	F 09	4612	3652	20.8%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S10	T / W	9451
South	M10	T / W	18795
West	F10	T	5584

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