After two successive weeks of falls, the Australian wool market has recorded an overall increase this series, albeit by the barest of margins.
The national offering was again below 40,000 bales for the third week in a row. There was a total of 35,436 bales available to the trade, after 8.8 per cent (pc) of the offering was withdrawn prior to sale.
When compared to the previous season the total amount offered continues to trend lower. Season to date there has been 15,974 fewer bales offered, 1.0pc lower than the previous season. Although as mentioned, the market improved, the market movements were varied across the two selling days, within sectors and also within individual micron pockets.
On the first day the movements in the individual Micron Price Guides (MPGs) for merino fleece ranged by between plus 18 and minus 10 centst. These movements combined with varied results in the crossbreds, skirtings and oddments resulted in a one cent fall in the AWEX Eastern Market Indicator (EMI).
The second day was very similar to the first, but with a slightly more positive tone. Here the merino fleece MPG movements ranged between minus 3 and plus 22 cents, with 18 of the 26 published MPGs recording positive movements and only 3 falling.
The EMI gained 2 cents for the day. By the end of the series the EMI closed one cent higher at 1,135 cents. Due to a stronger Australian dollar the rise in the EMI when viewed in US dollar terms was better, the EMI added 9 US cents across the series to close the week at 754 US cents.
Next week’s offering is again expected to be below 40,000 bales.
There are currently 39,404 bales on offer in Sydney, Melbourne and Fremantle, which will sell over one day (Tuesday) due to the limited amount of wool on offer.
Table showing wool prices for Season 24, Week 46
Graph showing Eastern Market Indicator (EMI)
For full details of auction sales, download the reports below.
