Week 44 - May 2024
Eastern Market Indicator (EMI)
Eastern Market Indicator (EMI)
Microns
AWEX Auction Micron Price Guides
Sales held Tue 30th Apr & Wed 1st May 2024
Offering (Aust. Only)
Offering (Aust. Only)
Sales Week 44: 2nd May 2024
Currency Movements
Currency Movements
Sales Week 44: 2nd May 2024
Forecast
Forecast
Scheduled Australian Wool Auction Sales
AWI Commentary
Prices at this weeks’ Australian wool auctions faltered across almost all types and descriptions. The apparent urgency of buying of the last few sale weeks quickly dissipated upon opening. Buyer actions were very much subdued in comparison to the last few weeks with the market largely reliant upon the larger exporters and manufacturers to soak up the quantity on offer.
Since the close of selling the previous week, the major forex rate of AUD v USD had traded well into the mid 0.65’s and above. This initiated a softening for prompt and close in demand for shipment and any chance of fresh orders for month out and beyond contracts quickly evaporated.
Coinciding with the above was the completion of traders forward orders for April shipment. This allows exporters a few weeks of opportunistic buying for executing their next requirements which are their May shipments hence purchasing pressure was released and the market price reacted negatively. As prices lowered, Chinese top makers and indent buyers increased buying.
The fine and medium wool Merino sectors were again the most well sought in a tougher environment for sellers. These wools were generally 5ac cheaper at the broader end 20.5u + and 20ac cheaper for the 19 to 20.5 micron. The super fine Merino (<18.5u) were again hard to place and losses of 25 to 40ac were commonplace. Crossbreds slightly dearer with cardings and skirting types all 10/15ac lower.
Next week has over 41,000 bales rostered to sell Tues/Wed.
