Week 48 - June 2023
Eastern Market Indicator (EMI)
Eastern Market Indicator (EMI)
Microns
AWEX Auction Micron Price Guides
Sales held Tue 30th May & Wed 31st May 2023
Offering (Aust. Only)
Offering (Aust. Only)
Sales Week 48: 1st June 2023
Currency Movements
Currency Movements
Sales Week 48: 1st June 2023
Forecast
Forecast
Scheduled Australian Wool Auction Sales
AWI Commentary
Despite the lower EMI this week, most types sold at the Australian wool auctions at better levels. A much more competitive environment was witnessed in all sale rooms, with the Fremantle market producing the most significant results by lifting 25 to 40ac. Nationwide, sellers were more prepared to meet the market and resulted in a clearance rate of over 88%.
Unlike the preceding few weeks of selling, buyers were fully engaged in purchasing from the outset with a strong lead being shown by the first stage manufacturers to stay in the market and accumulate inventory. Assumptions can be made that these influential processors see value at the moment and are prepared to support, particularly the Merino sector. China’s largest two top makers accounted for around 30% of this week’s Merino fleece sales and were fully supported by the locally traders whom gained more confidence as the week progressed.
The flow of greasy wool into first stage processing operations continues unabated, with blockages further up the chain preventing the ability of significant price gains being made for the moment. Most spinners of wool now report full bookings, factory’s running to full production levels, but are playing catch up after exorbitant energy costs, staffing issues, covid shutdowns and other issues put them somewhat behind. Once schedules get back to normal timings, a clearer demand picture should be forthcoming.
35,600 bales for Sydney and Melbourne selling only next week on Tues/Wed.
