Week 49 - June 2024
Eastern Market Indicator (EMI)
Eastern Market Indicator (EMI)
Microns
AWEX Auction Micron Price Guides
Sales held Tue 4th Jun & Wed 5th Jun 2024
Offering (Aust. Only)
Offering (Aust. Only)
Sales Week 49: 5th June 2024
Currency Movements
Currency Movements
Sales Week 49: 5th June 2024
Forecast
Forecast
Scheduled Australian Wool Auction Sales
AWI Commentary
Positivity reigned at this week’s Australian wool auctions and it also rained across many of our wool growing regions, rounding out a rather good week for wool grower sellers. All types and descriptions were well sought, with the main focus of buyers again being the more highly specified lots containing lower levels of vegetable matter (VM).
Auctions only operated in the two eastern centres as Fremantle sat out, and the market was strong from the opening lot. Exporters had reported follow up business to last weeks firm contracts executed, with enquiry continuing right up to the close of selling on Tuesday. Prompt demand had appeared to have met some price resistance, and the overseas clients stopped showing interest to somewhat re-assess their positions.
Upon sales opening on Wednesday, buyers commenced the day gauging competing buyers intent, but it was soon evident that the market still had a propensity to strengthen. Small gains were being registered on all types. Half way through the days selling though, the better tested lots shot upward. Orders were needing filling. Some individual lots in the 17 to 19micron range of Merino types became 40ac dearer, particularly European spec sale lots.
The supply is starting to become more of a factor to overseas mills looking for direction. South Africa is close to their two month break, whilst the low volume Australian upcoming auctions are an issue. Perhaps the most significant supply concern though is the trend of wool production lowering, as evidenced by the latest AWTA figures below.
Next week has around 33,800 bales rostered to sell Tuesday and Wednesday and all three selling centres will operate.
