Week 15 - October 2022
Eastern Market Indicator (EMI)
Eastern Market Indicator (EMI)
Microns
AWEX Auction Micron Price Guides
Sales held Tue 11th Oct & Wed 12th Oct 2022
Offering (Aust. Only)
Offering (Aust. Only)
Sales Week 15: 14th October 2022
Currency Movements
Currency Movements
Sales Week 15: 14th October 2022
Forecast
Forecast
Scheduled Australian Wool Auction Sales
AWI Commentary
A very welcome turn around for the wool market this week as domestic prices reversed their downward slide for the first time in three months. It was not so much a case of new buyers entering the market but greater activity amongst the usual list of buyers that lifted prices.
Gains were typically between 30 and 80 cents across better Merino fleece lines at all three selling centres. The Eastern Market Indicator (EMI) lifting 36 cents to 1271c/kg clean for a much-reduced volume of 32,107 bales, with just 4.8% of the offering passed in and not making sellers expectations. In the west, Western Market Indicator (WMI) gained 44 cents to end the week at 1407c/kg clean.
Tempering the large gains was the true indicator of demand, the EMI in US dollar terms as it fell 10 cents to 797usc clean/kg, showing the influence foreign exchange has on the trade.
The Australian dollar fell sharply lower across this trading week, falling to 62.50 US cents at the close of trade, this is a drop of 2.86 cents or over 4% relative to the close of Week 15. Such volatility does not instil confidence for those operating in the trade.
Nevertheless, marginal gains in domestic terms were also seen for broader wools with lifts of up to 20 cents while Merino carding prices remained relatively steady.
The smaller volumes of wool coming onto the market for this time of year are set to continue given the massive disruption in wool supply due to the ongoing flooding in many wool growing regions.
Next week 35,442 bales of Australian grown wool are expected to be on offer across the three selling centres.
