Market Report Week 18 - November 2023 | Australian Wool Innovation
Eastern Market Indicator (EMI)
Eastern Market Indicator (EMI)
Microns
AWEX Auction Micron Price Guides
Sales held Tue 31st Oct & Wed 1st Nov 2023
Offering (Aust. Only)
Offering (Aust. Only)
Sales Week 18: 2nd November 2023
Currency Movements
Currency Movements
Sales Week 18: 2nd November 2023
Forecast
Forecast
Scheduled Australian Wool Auction Sales
AWI Commentary
The price drift continued at this weeks’ Australian wool auctions as almost the entire offering recorded slight drops in value. Merino types lowered by 10 to 30ac in the Eastern markets, but the WA market saw prices readjust downward by just 5 to 15ac. Crossbred types sold slightly to the buyers favour throughout and carding wools held firm to existing quotes.
51,706 bales more Australian grown wool has been sold to the trade so far this season. This is 10.3% more than at the same time last season. 15 selling weeks have been transacted. During this same time period, just 4.3% or 25,322 bales more have been offered. The most recent testing data from AWTA (below) has 2.6% more weight of wool tested thus far this season. All this perhaps indicates that a draw down of the grower held stocks are being placed into Australian auctions. This is largely from stocks that had built up from the 2019/20 season.
Stagnation in pricing is occurring in a relatively narrow price range. This has created a steadying influence and surety of price through the entire wool supply chain. This price stabilization flows right through from the greasy wool price at auction through to the consumer. This is creating a solid base from which the entire industry can hopefully forge forward from when global economic conditions improve.
45,000 bales is rostered for sale next week over a changed rotation of Wednesday and Thursday selling.
