Week 40 - April 2023
Eastern Market Indicator (EMI)
Eastern Market Indicator (EMI)
Microns
AWEX Auction Micron Price Guides
Sales held Tue 4th Apr & Wed 5th Apr 2023
Offering (Aust. Only)
Offering (Aust. Only)
Sales Week 40: 7th April 2023
Currency Movements
Currency Movements
Sales Week 40: 7th April 2023
Forecast
Forecast
Scheduled Australian Wool Auction Sales
AWI Commentary
In the final week of selling at the Australian wool auctions before the Easter recess, wool prices hit a soft demand patch and as a result, all wool values fell away. The strength of enquiry from overseas and any subsequent firm business opportunities failed to handle both the quantity and the quality on offer this week. In addition, local exporters and buyers showed no willingness at all to take further stocks into their inventory as forward projections of auction volumes show decent weights still coming onto the market.
On an export value, the US dollar values of wool held on relatively well, with a comparatively small loss of 0.6% in that currency. The AUD versus USD pair improved 0.7% effectively halving the losses felt in local Aussie dollar terms. Large swings in the forex rates during the trading week continue to add a degree of difficulty to traders as narrow margins can be wiped out very quickly if the currency risk is not covered off in a timely manner.
The Western Australian selling centre is usually a good barometer of the Merino demand health, and this week those results highlighted a soft to easing position for Merino fleece and skirtings descriptions. Large pull backs of between 30ac and 50ac occurred relatively swiftly from the outset of selling, but once that level was established, the market held on and traded firm at those lower prices.
The two Eastern centres were not as affected and traded around 20ac cheaper throughout. Cardings drifted and closed similarly 20ac lower. In a small offering of better types, crossbred wool types were firm to 5ac cheaper, with good competition from many quarters. Traders and exporters were the principal buyers this week, with some first stage manufacturer support. 54,000 bales are rostered to sell in two weeks time after a one week break.
