The Australian wool market has generally recorded modest falls in this series, the market best described as subdued after the sharp rises recorded during the previous selling series.
Last week’s price increases encouraged more sellers to the market, pushing the national offering up to 41,065 bales, this was the largest sale since Week 8, which was after the annual three week mid year recess. Although this sale was relatively large, the season to date offering continues to trend lower.
So far this year there has been 432,254 bales put through the auction system, this is 109,999 fewer bales than the previous season, a drop of 20.3 percent. High yielding (higher than 66 percent dry in particular) merino fleece lots containing favourable additional measurement results (AM), continued to attract strong buyer interest, the prices on offer for these types were at very similar levels to those of the previous week.
Lower yielding wool and wool with less favourable AM results did receive the same level of support, as buyers became more selective with their purchases, these types were the driving factor in the overall downward trend in the merino fleece Micron Price Guides (MPGs).
Across the country the merino fleece MPG movements ranged between plus 11 and minus 30 cents. The softer market pushed the passed in rate up to 8.3 percent, this was 6.5 percent higher than the previous series, the 1.8 percent passed in rate last week was the lowest passed in figure since August 2018.The AWEX Eastern Market Indicator (EMI) added 1 cent on the first selling day, pushing the run of positive daily EMI movements to six.
On the second day the EMI dropped by 2 cents, meaning the EMI fell by the barest of margins, closing the week 1 cent lower at 1,138 cents. Next week’s offering is expected to fall. There are currently 36,553 bales rostered for sale in Sydney, Melbourne and Fremantle.
Table showing wool prices for Season 2024/25, Week 16
Graph showing Eastern Market Indicator (EMI)
For full details of auction sales, download the reports below.
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Read previous reports
Wool market update 11 October
Wool market update 4 October
Wool market update 27 September