AUSTRALIAN WEEKLY MARKET REPORT - The Schneider Group

Comment

It was another strong performance for the wool market this week. All types and descriptions were positive. There was some variability in the superfine end, but this is largely affected by small volume and the variable quality on offer. The market stimulus has largely been instigated by Chinese activity but is now supported by other markets. Small weekly volumes, some trade activity at the recent Nanjing Wool Conference, improved confidence resulting from a positive Chinese stock market, a steadying residential market and a more favorable exchange rate to start the week, all contributed to market confidence. This continued over the entire 3-day sale, which in itself was an unusual occurrence. Prices continued to improve right until the close of the auction in Sydney late Thursday.

AWEX Eastern Indicator compared with 04/10/24

Eastern Indicator

Close: 1139

Change in % unchanged +3.1

Authentico Index Values

15 Micron

Close: 3257

Change in %: -3.5

16 Micron

Close: 2172

Change in %: +1.2

17 Micron

Close: 1898

Change in %: +2.2

18 Micron

Close: 1718

Change in %: +2.1

19 Micron

Close: 1589

Change in %: +2.6

Authentico Indicator

Close: 2003

Change in %: +1.0

Forecast

As a result of the better market, we have 30% more wool on offer next week. The national volume will increase to around 42,000 bales. There are some very nice superfine wools emanating from the New England region. These types are selling well at the moment.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 15	8811	8668	1.6%
South	M 15	15474	15296	1.2%
West	F 5	5800	5648	2.6%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S16	T / W	11520
South	M16	T / W	24155
West	F16	T / W	6330

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