Week 19 - November 2024
Eastern Market Indicator (EMI)
Eastern Market Indicator (EMI)
Microns
AWEX Auction Micron Price Guides
Sales held Tue 5th Nov, Wed 6th Nov & Thu 7th Nov 2024
Offering (Aust. Only)
Offering (Aust. Only)
Sales Week 19: 8th November 2024
Currency Movements
Currency Movements
Sales Week 19: 8th November 2024
Forecast
Forecast
Scheduled Australian Wool Auction Sales
AWI Commentary
Activity at this week’s Australian wool auctions turned very much to the sellers favour. A staggered selling week from Tuesday through to Thursday saw each day post small general gains alongside a usually price tempering strengthening AUD against the majors. Bidding was strong and highly competitive throughout selling and it was clear that the market closed the week at the strongest point at the solo Melbourne sale on Thursday, which augers well for the immediate future.
Local trader exporters again exerted their pent up purchasing power this week, and dominated the top of buyers list in almost all type sectors. This pushed the direct buying first stage top makers to less than normal buying percentages of the offering for the second week running, possibly placing supply pressure on those mills going forward. This is particularly significant as we head into the final six weeks of auctions for the calendar year, prior to the annual three week recess.
Once more the flow of the wool onto the market is being managed extremely well to match the current demand. Enquiry is reported by exporters and top makers to be okay and most purchased wool is moving through the supply chain. Demand up the chain is decent but not up to the usual veracity for this time of year. In addition, the squeezed supply situation leading into the peak wool garment selling season of the Northern hemisphere winter appears to be holding the market price rather than sending it strongly upward.
All three centres will operate to the normal Tuesday/Wednesday selling days next week and there is currently 34,000 bales being offered.
