AUSTRALIAN WEEKLY MARKET REPORT

Comment

It was welcome to see some genuine positivity in the market this week finishing in positive territory across all micron categories. The highlights of the week were the strong performance of the high quality sub 15 micron which found healthy gains, well above previous weeks and months. This short term rally was supported by Italian, Chinese and Japanese interest based on short term increase in demand. High quality certified wool 16 to 18 micron showed significant improvement also this week rising between 3 to 5% from previous weeks levels. Again another strong indication of short term demand for these high quality wools. Better than expected economic data out of China seems to have activated some movement in attitude, however consumer spending remains lackluster. Indent buying remains strong and consistent from all sectors challenging the greasy exporters recent short term selling in to China.

AWEX Eastern Indicator compared with 27/09/24

Eastern Indicator

Close: 1104

Change in % unchanged +1.5

Authentico Index Values

15 Micron

Close: 3376

Change in %: +2.9

16 Micron

Close: 2147

Change in %: +4.7

17 Micron

Close: 1857

Change in %: +2.7

18 Micron

Close: 1682

Change in %: +3.1

19 Micron

Close: 1548

Change in %:  +2.0

Authentico Indicator

Close: 1983

Change in %: +3.2

Forecast

Next week we have 32,000 bales on offer Nationally, so we do not expect any changes to the current short term rally. We are seeing some excellent quality new season wool on offer which we hope will be rewarded by improved prices in the coming weeks.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 14	9807	9533	2.8%
South	M 14	14421	13761	4.6%
West	F 14	4808	4541	5.6%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S15	W / T	8966
South	M15	T / W	18817
West	F15	T / W	6676

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