Week 10 - September 2023
Eastern Market Indicator (EMI)
Eastern Market Indicator (EMI)
Microns
AWEX Auction Micron Price Guides
Sales held Tue 5th Sep & Wed 6th Sep 2023
Offering (Aust. Only)
Offering (Aust. Only)
Sales Week 10: 7th September 2023
Currency Movements
Currency Movements
Sales Week 10: 7th September 2023
Forecast
Forecast
Scheduled Australian Wool Auction Sales
AWI Commentary
Australian wool auctions had a difficult start to the selling week with most Merino wools experiencing general losses of between 10 and 20ac with some super fine descriptions upwards of 50ac cheaper. Crossbreds were more resilient to the negativity and traded strongly to open 15ac dearer.
Some small pockets of new business overnight on Tuesday combined with a weaker AUD against the USD and saw sentiment and confidence improve rapidly and prices swiftly reversed those initial losses. By the close of the weeks activity the Eastern centres had recovered to near the starting basis, but significantly the WA market at Fremantle came under strong buying pressure and led to all prices 25 to 40ac dearer for the week.
Strong indents from China led the auction purchasing or Merino lists but the market was ably supported by two of the local traders. The exception was the activity of our largest exporter whom still participated in buying volume, but seemingly chose not to be part of the push upwards. Similarly, the two largest direct buying top makers just chipped away at opportune lots rather than setting the market price for the week.
The seasonal trend of wool growers “offering and selling” continued this series and saw just 7.5% of volume failing to meet reserve. Auction sales have now sold 0.9% more bales than at the same time last season, despite the AWTA key test data figures (below) showing a 7.4% lower tested rate through the test house for this season compared to last year.
Around 40,000 Australian grown bales is rostered to sell next week.
