Australian Wool Market Review from AWIS (16 December 2022)
The market ended the first half of the season a strong note prior to going into the three week Christmas break. The AWEX EMI finished 49¢ higher (+3.8%) in Australian currency and 48¢ higher (+5.6%) in US currency at sales in Sydney, Melbourne and Fremantle in Week 24.
47,914 bales were on offer nationally, compared with 38,936 bales last sale, making it the largest sale since Week 05, when 55,200 bales were on offer. 6.5% of the offering was passed in this week after 3.0% of the potential offering was withdrawn prior to sale. 44,810 bales were sold.
AWEX reports that the value of the wool sold was $69.5 million ($1,551 per bale), taking the season total to $1.109 billion ($1,584 per bale). The number of bales sold at auction this season is now 1.7% greater than in 2021/22.
There were strong gains over all types and micron ranges on Tuesday and Wednesday, before the market eased slightly on Thursday when only Melbourne sold.
The US Exchange Rate finished 1.08¢ (1.6%) higher to close at 68.24¢ on Thursday.
Buyers for China were dominant, with support from buyers for India and Europe
In other countries, South African sales are in recess this week and will resume on 11 January.
Looking ahead: Sales are now in recess for three weeks and will resume in Week 27, commencing on the 9th January.
Source: Australian Wool Industries Secretariat Inc
Auction Buyers (this week): Techwool Trading 6918 bales, Endeavour Wool Exports 5800, Fox & Lillie 4818, Tianyu Wool 3707, Pelican Australia 2990, PJ Morris Wools2420, Modiano Australia 2131, Australian Merino Exports 1997, United Wool Company 1860, Michell Wool 1674 bales.