Week 06 - August 2023
Eastern Market Indicator (EMI)
Eastern Market Indicator (EMI)
Microns
AWEX Auction Micron Price Guides
Sales held Tue 8th Aug & Wed 9th Aug 2023
Offering (Aust. Only)
Offering (Aust. Only)
Sales Week 6: 9th August 2023
Currency Movements
Currency Movements
Sales Week 6: 9th August 2023
Forecast
Forecast
Scheduled Australian Wool Auction Sales
AWI Commentary
Australian wool auctions resumed this week to a rather subdued tone as plenty of bales were available and demand remains on the slow side. Exporters were able to conduct some new business over the break, but volumes were minimal and prices at around market only. China and India were most active with enquiry from Europe sporadic.
The majority of the recess saw the Australian dollar hover above the 0.67 mark against the US dollar which perhaps explained the thinly distributed new business opportunities. Just two days prior to sales re-opening , that forex rate had plunged almost 3% to around the 0.65 mark. This led to widespread expectations from the trade of strong auction participation from the indent operators for mainly the Chinese first stage top-makers whom were able to take advantage of that far more advantageous rate.
Those market results were fully met with the two largest Chinese top makers dominating the Merino fleece sector of the offering. Apart from the spirited bidding against each other, significant competition emanated from the export trading houses. These local entities seemingly concentrated on their clients buying orders and some forward contract completions. The crossbred buying was similarly destined for first stage manufacturers with good trader support, but the carding and merino skirting sectors were the purchasing domain of traders.
Whilst Individual type sectors within the merino fleece segment were down 15/20ac, most other descriptions sold firm to slightly dearer. Of most interest from buyers were the crossbred fleece finer than 30 micron which gained 15ac, lower (less than 4% ) vm merino skirtings were fully firm to 10ac dearer and cardings generally 5 to 10ac dearer.
Near to 47,000 bales is currently rostered to sell next week.
