Week 36 - March 2024
Eastern Market Indicator (EMI)
Eastern Market Indicator (EMI)
Microns
AWEX Auction Micron Price Guides
Sales held Tue 5th Mar & Wed 6th Mar 2024
Offering (Aust. Only)
Offering (Aust. Only)
Sales Week 36: 7th March 2024
Currency Movements
Currency Movements
Sales Week 36: 7th March 2024
Forecast
Forecast
Scheduled Australian Wool Auction Sales
AWI Commentary
The price improvement continued with gusto into this week at the Australian wool auctions. Consecutive daily gains of 15 to 20ac were posted on the majority of Merino fleece types to see all quotes around 30ac dearer by the close. All other types within the skirting, carding and crossbred wool segments sold to firm levels or thereabouts.
Somewhat surprisingly there was no evidence or rhetoric around more new business forthcoming out of the overseas interests, but more so the smallish volume at auction combined with a shipping squeeze giving the market fresh upward impetus. Given the week long recess for Easter in Australia is not far away, this has forced exporters into the market to complete the March shipments earlier and get a start into their April forward commitments.
The movements of this week emphasise just how on edge and reactive the market is at the moment. On one side, there are only small positive signals coming from the major markets for textile specific demand, but on the other hand, financial markets globally are trending strongly towards better conditions. This should hopefully transfer to greater confidence and improving consumer spending.
The buyers in action this week's still featured the dominant operators, but one or two mid range players representing mainly first stage and vertical operators played a more prominent role in securing more of the supply. Their interest in locking in a container (110bales) or two each was enough to strengthen the competition and create the price lift. Next week has over 42,000 bales on offer over 3 days Tuesday to Thursday.
