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AWEX EMI 1199 -5
Micron 17 1658 -7
Micron 18 1592 -13
Micron 19 1529 -12
Micron 20 1457 -11
Micron 21 1428n -
Micron 26 624n +9
Micron 28 443n -
Micron 30 382n +9
Micron 32 335 +5
Micron 16.5 1692 -2
MCar 645 -3

Eastern Market Indicator (EMI)

Eastern Market Indicator (EMI)

Microns

AWEX Auction Micron Price Guides

Sales held Tue 1st Oct & Wed 2nd Oct 2024

Offering (Aust. Only)

Offering (Aust. Only)

Sales Week 14: 3rd October 2024

Currency Movements

Currency Movements

Sales Week 14: 3rd October 2024

Forecast

Forecast

Scheduled Australian Wool Auction Sales

AWI Commentary

All types and descriptions at this week’s Australian wool auctions were very firm to dearer. Buyer competition was at times combative, as the low volumes and an improved prompt demand saw the market trend towards the sellers' favour. Merino fleece was most affected with gains of between 25 and 40ac commonplace for the week's trading.

The major price factor though was the massive gain on Chinese share markets and property stock which surged to double digit percentage gains prior to the Chinese exchanges shutting for the Golden Week national holidays on Tuesday. Off shore trade continues bullish though.

That good news from the general Chinese economy was fuelled by a series of Government stimulus measures. This significantly ignited investors' enthusiasm and bolstered market confidence in an economic recovery sooner rather than later. This sentiment looks to be starting to flow through to the wool textile manufacturing sector and encourage some investment in the future, rather than focussing on today’s weak consumer spending. Time will tell if wool surges to price levels of a more economically sustainable nature.

The top Chinese top maker headed volume buying but the top two local exporters bid up strongly perhaps indicative of their confidence going forward.

Next week sees 32,000 Australian stored bales rostered. Fremantle and Melbourne sell Tues/Wed whilst Sydney will sell on Wed/Thurs.