The Australian wool market has recorded an overall increase this series, the first time this has occurred for the 2024/25 season and the first weekly rise since Week 50 (13 June).
The price increases were heavily influenced by currency movement.
Fremantle returned to the selling program, bolstering the national offering. There was a total of 31,960 bales available to the trade. With this being the last selling series for a month, buyer activity was robust.
On the first selling day the benchmark AWEX Eastern Market Indicator (EMI) rose by 4 cents.
The second selling day saw some large rises, particularly in the finer merino fleece types, due in part to buyers taking this final opportunity to finish orders before the break.
The individual Micron Price Guides (MPGs) for merino fleece added between 5 and 75 cents for the day.
The EMI gained 13 cents for the day; this was the largest daily rise in the EMI since April. The EMI closed the week at 1,124 cents, a weekly increase of 17 cents, this was the largest weekly rise in the EMI since Week 50.
After not recording a rise for ten consecutive selling days, the EMI has now risen for the last three.
The 84 cent rise in the Northern 17 micron MPG was the largest weekly rise in any published MPG since December, when there was multiple three figure increases recorded.
Currency movement played a large role in this week’s market movements, so much so that when viewed in US dollar terms the market lost ground.
The EMI closed the week at 742 US cents, a fall of 4 US cents.
Sales now head into the annual three week mid year recess, which has been moved this year from Weeks 3,4 and 5 to Weeks 5,6 and 7.
Sales will resume in Week 8, which is the week beginning Monday 19 August.
Table showing wool prices for Season 2024/25, Week 4
Graph showing Eastern Market Indicator (EMI)
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