The Australian wool has recorded an overall increase in this series, bouncing back from the falls recorded in the previous week.
On the opening selling day, the market opened cautiously. By day’s end in the Eastern markets, the merino fleece Micron Price Guides (MPGs) movements ranged between plus 4 and minus 17 cents. The positive movements in the other sectors were large enough that the benchmark AWEX Eastern Market Indicator (EMI) finished the day unchanged.
The day was heavily influenced by currency. Due to a weakening of the Australian dollar (AUD), when viewed in US dollar (USD) terms the market retracted. The EMI dropped by 8 US cents.
The Western region selling last in the day had a noticeable increase in buyer sentiment, this resulted in spirited bidding and price rises as result. The merino fleece MPGs in the West rose by between 10 and 15 cents for the day, setting up a positive tone for the following day’s opening.
This buyer positivity carried into the second day and the prices on offer for merino fleece types were generally on the rise.
The MPGs movements across the country ranged between minus 12 and plus 25 cents. It was again the West selling last, recording the largest prices increases. The increases were so large that the MPGs for 19.0 to 20.0 micron closed higher than the South.
The EMI closed the day and the week 4 cents higher at 1,249 cents. The EMI has now fallen only once in the last fourteen selling days.
In a an almost mirror image of the previous day, a strengthening of the AUD meant that when in viewed in USD terms the rise was larger, the EMI added 9 US cents for the day, closing the week one cent higher at 787 US cents.
Next week there is currently 35,699 bales on offer in Sydney, Melbourne and Fremantle.
Table showing wool prices for Season 2024/25, Week 40
Graph showing Eastern Market Indicator (EMI) to 3 April 2025
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