Week 44 - May 2023
Eastern Market Indicator (EMI)
Eastern Market Indicator (EMI)
Microns
AWEX Auction Micron Price Guides
Sales held Tue 2nd May & Wed 3rd May 2023
Offering (Aust. Only)
Offering (Aust. Only)
Sales Week 44: 5th May 2023
Currency Movements
Currency Movements
Sales Week 44: 5th May 2023
Forecast
Forecast
Scheduled Australian Wool Auction Sales
AWI Commentary
Prices at this week’s Australian wool auctions have again produced gains across a wide section of the offering. It was predominantly a market whereby price alignment was the main game, as last week's closing basis was extremely varied between selling centres. This week, the Sydney centre posted strong gains on the 18.5 micron and broader Merino fleece segment whilst the other two centres stayed relatively firm around the established price basis. By the close of selling, all prices were comparable across the regions.
The super fine Merino wools - finer than 18.5micron were strongly sought throughout and closed at levels 20 to 30ac higher. On all merino types, the market was assisted by the smaller offered volumes tightening supply and a slight improvement from Chinese buying of super fines to compete against some handy Indian and European orders.
Skirting wools were particularly well sought, and some stronger interest is apparent on these wools, with the stronger attention being paid to the better lots containing less than 4%vm. The crossbred wool sectors defied the stronger AUD against the USD forex rates and managed to hold rock solid on all micron groups for the week. Cardings again struggled to hold onto their values and a further loss of around 10ac resulted from the week’s trade.
Merino wool buying was dominated by the largest exporters taking on Chinese top makers and indent operators. The local traders have exhibited a growing confidence in the current price levels and that is transferring to sale rooms creating a healthier and more competitive environment. Every buying sector is being forced to act more bullishly to acquire inventory.
There is a larger offering of 48,500 bales rostered to sell next week on Tuesday and Wednesday.
