The Australian wool market has had another series of minimal price movements, culminating in an overall marginal decrease.
The national offering was 38,172 bales. This was just 253 fewer bales than the previous week. The market movements were varied across microns and regions.
The movements in the individual Micron Price Guides (MPGs) across the country ranged between plus 25 and minus 31 cents. The 19.0 micron and finer MPGs in the west posted the largest increases, while the 18.0 micron and finer MPGs in the north recorded the largest falls.
On the first selling day the benchmark AWEX Eastern Market Indicator (EMI) fell by 2 cents. This was the nineteenth selling day in a row where the EMI recorded a single digit movement. On the final day the EMI recorded no movement, finishing the day unchanged.
This stretched the run of single digit movements to 20. This was the longest run of single digit daily movements since a run of 25 between October 2014 and January 2015.
The EMI finished the series just two cents lower, closing the week at 1,140 cents.
A weaker Australian dollar (the AUD fell by 0.45 US cents since the close of the previous series) meant that when viewed in US dollar terms, the overall market reduction was larger.
The EMI dropped 6 US cents for the week, closing at 728 US cents.
Next week hosts the final sale for the 2024 calendar year. This sale was restricted to a two day Tuesday/Wednesday sale to adhere to the business rule that there must be four business days between the final sale day and Christmas day. There was no need to restrict quantities on this occasion as all regional centres were below the allowed two day sale lot maximums.
There is expected to be 35,912 bales on offer nationally.
Table showing wool prices for Season 2024/25, Week 24
Graph showing Eastern Market Indicator (EMI) to 13 December 2024
For full details of auction sales, download the reports below.
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