AUSTRALIAN WEEKLY MARKET REPORT - The Schneider Group

Comment

There was not a lot of change in the market this week, but it was certainly accentuated by movements in the value of currencies following the US Federal election. Tuesday, with Sydney selling in isolation, showed some modest gains across the board in a small and varied offering. Not a lot of change followed on Wednesday with all markets in action. Thursday saw the most dominant move in Melbourne, again selling in isolation, after the Australian dollar eased against a stronger USD. There was a nice small offering of fine and superfine wool form both the New England region and Tasmania. Both of these offerings attracted good support. Superfine wool types 14.5 micron and finer remain in strong demand for the luxury markets. With European markets dominating these wools, the non mulesed clips are certainly gaining the stronger support.

AWEX Eastern Indicator compared with 01/11/24

Eastern Indicator

Close: 1132

Change in % unchanged +0.6

Authentico Index Values

15 Micron

Close: 3145

Change in %: -1.8

16 Micron

Close: 2193

Change in %: -0.3

17 Micron

Close: 1853

Change in %: +0.3

18 Micron

Close: 1687

Change in %: +1.6

19 Micron

Close: 1565

Change in %: -2.4

Authentico Indicator

Close: 1972

Change in %: -0.2

Forecast

The market does appear to be in a more positive mood. While not a lot of change in market values, the buyers all certainly appear to be more actively building inventory. Anyone looking for good fine wool must be buying at this time of the year or risk missing them all together. As mentioned in this week’s report, there is now a strong disparity between the value of non mulesed and mulesed wool finer than 15.0 micron and certified wools are at another level again.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 19	8972	8592	4.2%
South	M 19	20792	19822	4.7%
West	F 19	5641	5281	6.4%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S20	T / W	9628
South	M20	T / W	19619
West	F20	T / W	7326

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