Wool update - 29 September



The latest on the Australian wool market Season 24 Week 13, direct from the Elders wool team.

The Australian wool market has fallen again in this series, although there were positive signs late in the week. 

Melbourne opened proceedings on Tuesday, selling in isolation. The prices on offer for merino fleece types were all below those achieved at the close of the previous series. By the close of the day the Southern Micron Price Guides (MPGs) had dropped by between 1 and 45 cents.

A solid day in the crossbreds (where all MPGs recorded increases) and minimal movements in the skirting and oddments resulted in the Southern Indicator losing 3 cents. With only Melbourne in operation the AWEX Eastern Market Indicator (EMI) dropped by just 1 cent. 

The second selling day all three centres were in operation. 

Sydney and Fremantle quickly came back to the levels that were set in Melbourne on the previous day, then there were generally further falls across all three regions. The regional MPG movements ranged between plus 8 and minus 37 cents.  

The EMI dropped another 6 cents, again it was a buoyant crossbred market preventing a larger fall. On the final day of the series, Sydney and Fremantle were the only centres selling. 

The merino fleece MPGs movements in Sydney ranged between plus 13 and minus 24 cents. In Fremantle (selling last) the MPGs were all positive (+5 to +23 cents), setting a good precedent for next week’s opening. 

The EMI ended the week 9 cents lower, closing at 1,135 cents. 

Due to a weakening Australian dollar (the AUD lost 0.82 cents compared to the US dollar since the close of Week 12) when viewed in USD terms the fall in the EMI was greater, the EMI lost 15 US cents, closing the series at 723 US cents. 

Next week's selling changes again due to a Public Holiday (in Sydney), shifting selling to Wednesday and Thursday. 

42,115 bales are currently expected to be offered nationally.
 

Table showing wool prices for Week 13, Season 24
Graph showing Eastern Market Indicator (EMI)

For full details of auction sales, download the reports below.

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