Week 8 - August 2024
Eastern Market Indicator (EMI)
Eastern Market Indicator (EMI)
Microns
AWEX Auction Micron Price Guides
Sales held Tue 20th Aug & Wed 21st Aug 2024
Offering (Aust. Only)
Offering (Aust. Only)
Sales Week 8: 21st August 2024
Currency Movements
Currency Movements
Sales Week 8: 21st August 2024
Forecast
Forecast
Scheduled Australian Wool Auction Sales
AWI Commentary
A flat market greeted sellers following the three-week recess of the Australian wool auctions. Exporters reported pre-sale that some new business opportunities had been converted throughout the sales break, the higher but Australian dollar (AUD) versus the US dollar (USD) (0.6491 to 0.6684) had stymied the consistent volume of fresh contracts required to hold and then turn the market trend positively in AUD.
Despite the largish volume on offer and the AUD further strengthening against the USD, price levels in USD were all stronger, indicative of the slightly better sales opportunities and the revamped buyers bank accounts.
The results ultimately produced levels 10ac or around 1% lower than what was received in the final sale before the break. Whilst somewhat disappointing, the strength of the competition was encouraging, as was the dearer (WMI +5ac) market that occurred in Fremantle on the final day of selling for the week.
Some more positive sale room highlights for the week came from the rather abundant volumes (in comparison to normal weekly offerings) of NM certified sale lots. These wools were receiving premiums of somewhere between 15ac and 40ac dependent on quality and micron and even greater prices were received if the NM lot was accompanied by a RWS or equivalent wool standards certification
China’s largest two top makers bought nearly 30% of the Merino fleece on offer. Interesting to note for the week was that the four largest buyers in each type sector took nearly or over half of all bales offered. Next week sees a similar volume of 42,000 bales to be auctioned.
