Week 31 - February 2024
Eastern Market Indicator (EMI)
Eastern Market Indicator (EMI)
Microns
AWEX Auction Micron Price Guides
Sales held Tue 30th Jan & Wed 31st Jan 2024
Offering (Aust. Only)
Offering (Aust. Only)
Sales Week 31: 1st February 2024
Currency Movements
Currency Movements
Sales Week 31: 1st February 2024
Forecast
Forecast
Scheduled Australian Wool Auction Sales
AWI Commentary
Australian wool auctions saw prices drift once more with general losses a touch over 1% in both Australian dollar (AUD) and US dollar (USD) terms. The volume rostered for sale fell away rather drastically and resulted in just shy of 33,000 bales eventually being offered, with just 41% being Merino fleece.
This low supply saw both the local and overseas buyers of Merino fleece wool approach the auction with caution. There was activity that indicated many operators were not wanting to exert pressure on the market which would have easily spooked the market in the low supply offering, especially considering the next few weeks have much larger (+34%) offerings.
In a similar vein to last few sales, the superfine fleece categories of 18.5 micron and finer were largely responsible for that market deprecation. Falls were in the range of 30 to 40ac. The 19 micron and broader Merino fleece wools were far better sought but still saw slight pullbacks of 5 to 10ac.
Merino skirtings travelled to the same trend as their fleece counterparts. Crossbreds traded very firm throughout and demand remains consistent for these descriptions. Cardings again refused to follow the general trend and an additional 5 to 10ac was gained to their values.
Again, two of China’s largest top makers featured at the top of buyer’s lists with solid, but reduced support from trader exporters.
Next week will sell 2 days Tues/Wed with over 44,000 bales being offered.
