In an almost mirror image of the previous series, the Australian wool market has recorded large falls this week, again heavily influenced by currency.
This time it was an upward spike in the Australian dollar (AUD) compared to the US dollar (USD). The AUD closed the previous series at 59.63 US cents. On the opening day of this series it was trading at 63.43 US cents.
In contrast to the previous week, falls were expected, and from the opening lot these falls were realised. Buyer activity was best described as cautious, with buyers being very selective in their purchases. By the end of the day the individual Micron Price Guides (MPGs) for merino fleece had dropped by between 16 and 48 cents.
These losses combined with falls in the crossbred, skirting and oddment sectors, resulted in a 22 cent drop in the benchmark AWEX Eastern Market Indicator (EMI).
With the rise in the AUD, when viewed in USD terms the news was much more favourable. The EMI rose by 34 US cents. This was the largest daily rise in US cents since October 2021.
With minimal currency movement on the second day, the market settled. Although the market recorded overall losses, the falls where nowhere near as large as the previous day.
The merino fleece MPGs movements ranged between unchanged and minus 17 cents. The other sectors recorded minimal falls.
The EMI fell by another 8 cents, closing the week 30 cents lower at 1,232 cents. The EMI also fell in USD, losing 6 US cents for the day, closing the series 28 cents higher at 787 US cents.
Of note this week, the Sydney sale was held at the Sydney Royal Easter Show, showcasing wool auctions to the larger community.
There is no sale next week as the market heads into the one week Easter recess.
Table showing wool prices for Season 2024/25, Week 42
Graph showing Eastern Market Indicator (EMI) to 17 April 2025
For full details of auction sales, download the reports below.
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