Week 1 - July 2024
Eastern Market Indicator (EMI)
Eastern Market Indicator (EMI)
Microns
AWEX Auction Micron Price Guides
Sales held Tue 2nd Jul & Wed 3rd Jul 2024
Offering (Aust. Only)
Offering (Aust. Only)
Sales Week 1: 4th July 2024
Currency Movements
Currency Movements
Sales Week 1: 4th July 2024
Forecast
Forecast
Scheduled Australian Wool Auction Sales
AWI Commentary
Australian wool auctions opened for the 2024/25 season on a weak note. The cheapening trend remained in place, which saw almost all types and descriptions on offer record lower prices again, amidst a subdued sale room atmosphere. The combined forces of the three largest Chinese top makers were again to the fore of purchasing lists. These buyers were increasingly active as the auction price levels diminished alongside a cheapening Australian dollar against the US dollar and Chinese yuan.
Australia’s largest trading exporters remained active but not in the market leading role they would usually be playing. Traders report that business is very hard to come by at present, with the sporadic enquiry leading to just minimal new contracts being written. The majority of the current enquiry for new business is still emanating from Chinese based users and traders.
Very little evidence is apparent in sale rooms of any significant Indian buying since the activity of a few weeks back, nor has there been any signs of the emergence of interest from the few remaining European buyers. Some buying of the best superfine Merino by Italian mills has been seen, but selection and volume just isn't there yet for those specialist, mainly worsted, buyers.
The crossbred wool types are holding on much better than any other sector. This is possibly a reflection of the current environment in the large Chinese domestic market, whereby consumers are reportedly still wanting to choose to purchase wool products, but at ever cheaper retail price points.
Logistics problems have also returned with gusto and are heavily impacting speed of delivery globally. Massive price increases have also been felt.
Next week sees around 33,000 bales currently rostered to sell.
