IMPORTANT NOTICE:
AWIS WOOL MARKET
REVIEW
Week Ending 8
November 2019 (Week 19).
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The AWEX EMI finished at 1555˘, 39˘
lower (-2.4%) in Australian currency and 36˘ lower (-3.3%) in US currency at
sales in Sydney, Melbourne and Fremantle in Week 19. 34,057 bales were on offer nationally,
compared with 35,300 bales last sale. 8.1%
of the potential offering was withdrawn before sale and 17.5% of the offering
was passed in. The number of bales
sold at auction this season is now 22.1% less than in 2018/19. AWEX reports that the value of the
wool sold was $48.8 million ($1,738 per bale), taking the season total to
$708.6 million ($1,744 per bale).
The market was not able to maintain
the momentum of the two previous weeks, when it gave back 39˘ of the 77˘
gained over that period. Thursday was
generally a better day with the southern market (although down) firming
towards the end of selling and the WMI finishing up for the day. Overall, there were falls across all
types and micron ranges, with the least falls occurring among the fine Merinos. The US Exchange Rate eased from last
week’s four month high to finish 0.59˘ (-0.9%) lower; and to close at 68.67˘
on Thursday. Buyers for China were dominant, with
support from buyers for India and Europe. In other countries, the South African
Cape Wools Indicator was down by 4.7% since last week against a 2.2% appreciation
of the Rand against the US Dollar and a 3.0% appreciation against the Euro. Looking ahead, offerings for the
coming three sales are expected to range from 35,926 bales to 38,497 bales
and to be 9.9% more than in the same period last year. The forecast progressive difference to Week
22 is -12.8%.
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The following tables show the details of this week's sale
offering; the expected offerings over the next three sales; the changes in
Exchange Rates since the previous sale; and highlights from the August ABS
export data.
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Next Three Sales
Week Number Commencing Selling Centres Bales
20 11
November 2019 Sydney,
Melbourne and Fremantle 38,497
21 18
November 2019 Sydney,
Melbourne and Fremantle 35,926
New
Zealand Merino Company 2,750
22 25
November 2019 Sydney,
Melbourne and Fremantle 36,160
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contact this office)
AWIS WOOL MARKET
REVIEW ARCHIVES
(Week Ending)
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