AUSTRALIAN WEEKLY MARKET REPORT - The Schneider Group

Comment

There was not a lot of change in the general market this week. The Sydney values settled a little on the first day following a more positive result compared to Melbourne to close out the previous week. Melbourne results, on the other hand, were a little better overall.

The selection is particularly good at the moment for the best performing fine and superfine wool. It’s impossible to compare the wool 18.0 micron and finer on offer at the moment with those offered between March and August this year. Those willing and able to buy at the moment will certainly see the benefit in the performance of the raw materials that they are sourcing during this period. While ‘on paper’ the quality might seem similar, they certainly are not.

AWEX Eastern Indicator compared with 11/10/24

Eastern Indicator

Close: 1138

Change in % unchanged -0.1

Authentico Index Values

15 Micron

Close: 3208

Change in %: -1.5

16 Micron

Close: 2172

Change in %: unch

17 Micron

Close: 1906

Change in %: +0.4

18 Micron

Close: 1724

Change in %: +0.3

19 Micron

Close: 1610

Change in %: +1.3

Authentico Indicator

Close: 2005

Change in %: +0.1

Forecast

The AWEX weekly report and auction data suggests that we’ve seen 20% fewer bales offered in period since July compared to 2023. Or, around 110,000 bales less. However, the AWTA key test data to the end of September indicates that they have tested only 10% less bales over the same period compared to last year. This should tell us that there are around 50,000 to 60,000 bales in broker stores ‘on hold’ from growers waiting for better market conditions. This is probably not that much across all three selling centres and a wide variety of types. It’s also not unusual for a certain volume of first-hand grower wool being held for sale. The roster for the next few sale weeks is indicating that they are not yet willing to sell, and this should help to maintain market stability in the short term.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 16	12002	11300	5.8%
South	M 16	20386	18532	9.1%
West	F 16	6710	6137	8.5%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S17	T / W	8848
South	M17	T / W	20875
West	F17	T / W	6830

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