Southern Aurora Markets partner Mike Avery.

“How poor are they that have not patience. What wound did ever heal but by degrees? — William Shakespeare

THE wool spot auction market limped along helped by a stronger USD this week.

Modest gains were posted in the finer wools, but medium merinos remain in the doldrums as the market remains guided by the macro-economic drivers that continue to disappoint.

The forward markets are showing a little more activity on the bid side. The prompt window remains unloved with September still at a discount to cash.

The further we move out the better the price curve looks. December 2024 is bid at a slight premium to cash (10 to 15 cents) across the main 19 and 21 micron categories. For a further 12 months out (November 2025 to January 2026), the premium for the 19 micron index is 130-160 cents. Other activity in the spring and summer centred around 18 micron, with October bid 1430 cents and December 1445 cents, a slight discount to the current spot of 1458 cents.

Next week’s auction of 32,000 bales should put no adverse pressure on market. Direction will again be influenced by external forces. Few seem positive with consumer confidence still low and demand signals weak.