After managing a small overall increase in the previous series, the Australian wool market has recorded another overall fall this week.
After 3.8per cent(pc) was withdrawn prior to sale, the national offering was only 116 bales less than the previous week, 39,692 bales were available to the trade.
The prices on offer for merino fleece types were consistently below those achieved in the previous series. By the end of the week the movements in the Micron Price Guides (MPGs) for merino fleece ranged between plus 4 and minus 61 cents.
The largest falls were seen in the fine Merino MPGs, the 17 micron MPG in Sydney and the 16.5 micron MPG in Melbourne losing 53 and 61 cents respectively.
After being the strongest performing sector over the past few series, the crossbred market succumbed to the falling market this week, with an overall softening recorded, although there was one MPG that managed an increase - the 32 micron MPG in Melbourne rising by 5 cents.
The skirtings tracked a very similar path to the fleece. The oddments also finished lower; the three Merino Carding Indicators (MC) dropped by an average of 9 cents. The end result of these market movements was a 10 cent drop in the AWEX Eastern Market Indicator (EMI), the EMI closed at 1,128 cents.
The EMI has recorded ten successive sale days with single digit movements, including one unchanged, six out of the ten were falls and over this period the EMI has dropped 20 cents. The EMI continues to drop compared to the previous season.
At this stage last year, the EMI was 143 cents higher when it was 1,271 cents, the EMI has fallen by 11.3pc in the year that followed.
Despite the lacklustre performance of the market in this series, next week the national offering increases.
44,552 bales are currently expected to be offered in Melbourne, Fremantle and Sydney, which is a designated Superfine sale.
Table showing wool prices for Week 15 Season 24
Graph showing Eastern Market Indicator (EMI)
For full details of auction sales, download the reports below.
Read previous wool reports
Wool market update 6 October
Wool market update 29 September
Wool market update 22 September
Wool market update 15 September
Wool market update 8 September
Wool market update 1 September
Wool market update 25 August
Wool market update 18 August
Wool market update 11 August
Wool market update 13 July
Wool market update 7 July
Wool market update 29 June
Wool market update 22 June
Wool market update 16 June
Wool market update 8 June
Wool market update 2 June
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