Week 07 - August 2023
Eastern Market Indicator (EMI)
Eastern Market Indicator (EMI)
Microns
AWEX Auction Micron Price Guides
Sales held Tue 15th Aug & Wed 16th Aug 2023
Offering (Aust. Only)
Offering (Aust. Only)
Sales Week 7: 18th August 2023
Currency Movements
Currency Movements
Sales Week 7: 18th August 2023
Forecast
Forecast
Scheduled Australian Wool Auction Sales
AWI Commentary
This week’s Australian wool auctions played out on a similar pattern to what happened last week, with the notable difference a stronger close to the Fremantle (WA) market. This was perhaps due to there being no WA auction next week to allow for travel for meetings in Melbourne next week as part of the annual wool week plus outstanding August orders needing completion. Most types and descriptions on offer sold 15 to 25ac lower by the week’s end with WA less affected.
Traders continue to be able to book some new orders - into China mainly - but prices have to be sharp to say the least. Quantities booked are seemingly being restricted to just one or two of the major suppliers who can meet the price levels being bid within the shipment time given. Logistics now have a greater role in preferred supply arrangements with the major exporters, but price and quality remain key.
The ever weakening Australian dollar (AUD) against the US dollar continues to assist wool growers whom are paid in AUD from the auction system. The export value though continues to decline, with around 20usc/clean kg on average being eliminated from the gross wool export earnings for the past two weeks, negating the reasonably strong July result where the two sales held placed 43usc value to wool export value.
The strong auction participation from the representatives of the major Chinese first manufacturers continued this week, but the top two local traders exercised significantly more buying power. These two leading export buyers took a fairly high percentage of all wool category’s with 33% of merino fleece, 44% of skirtings, 27% of Xbds and 23% of cardings being purchased.
A smaller volume of 37,000 bales is rostered to sell next week in Syd/Melb.
