AUSTRALIAN WEEKLY MARKET REPORT

Comment

Unexpectedly the market closed in positive territory. Amidst the lack of demand we saw a shining light in the sub 15 micron wools attract keen competition with significant price incentives. Day 2 this week provided the market with an excellent style selection including high quality certified wool which the market has been starved of in recent weeks. The market is seeking high quality fleece and skirtings which is supported by the keen competition we saw on day 2 of the auctions this week. What we have seen from the early new season wool, is a fining of micron, an improvement in style and strength and an improvement in mid breaks which is achieving excellent CVH for good performing wool for topmakers. Global demand remains slow, however we are seeing some more enquiry for prompt selling, a glimmer of hope for late October into early November. Whilst prices are low for growers, we still need them to maintain high quality clip preparation which ultimately will be their point of difference through this tough period.

AWEX Eastern Indicator compared with 30/08/24

Eastern Indicator

Close: 1091

Change in % unchanged +0.3

Authentico Index Values

15 Micron

Close: 3270

Change in %: +5

16 Micron

Close: 2024

Change in %: -1.8

17 Micron

Close: 1799

Change in %: -0.2

18 Micron

Close: 1633

Change in %: -0.3

19 Micron

Close: 1511

Change in %:  -1.2

Authentico Indicator

Close: 1913

Change in %: +0.2

Forecast

We continue to see smaller volumes on offer as some growers hold wool hoping for better prices and a genuine lack of supply at this time of the year which is a result of heavy culling last Oct/Nov 2023 where the industry reduced sheep numbers due to severe economic factors. As Europe returns from summer vacation the hope is for increased competition against the Chinese indent and trading companies which will hopefully benefit wool growers in the short term.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 10	8692	8009	7.9%
South	M 10	16193	14914	7.9%
West	F 10	4281	3844	10.2%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S11	T / W	9525
South	M11	T / W	18750
West	F11	T	4079

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