The Australian wool market has recorded a strong overall upward movement in this series, with currency fluctuations only playing a partial role in the rises.
On the first selling day (Tuesday) only Melbourne and Fremantle were in operation. The individual Micron Price Guides (MPGs) for merino fleece rose between 11 and 57 cents, Fremantle recording the largest increases, as the west did not enjoy the gains on offer on the final day of the last series. The AWEX Eastern Market Indicator (EMI) rose by 8 cents but due to a sharp fall in the AUD, in USD terms it dropped by 15 US cents. This 23 cent difference between the two was the largest difference between the two EMIs since March 2023, where the difference was 24 cents.
On the second day (Wednesday) all three centres were in operation and the market continued to rise unabated. By the end of the day the merino fleece MPGs had risen by between 10 and 88 cents, this time Sydney playing catch up and posting the largest gains. The EMI rose by 23 cents, this was the largest of the current season and the largest daily increase in the EMI since February 2023. The EMI also rose in USD terms, gaining the 15 cents it lost on the first day.
On the final day, only Sydney was in operation, due to a Monday Public Holiday in NSW, the 4,752 bales on offer was the smallest national daily offering of Australian wool since 2013. The market rose again, with the EMI adding a further 4 cents. The EMI closed the week at 1,139 cents, the 35 cent weekly rise was the largest since July 2023.
The 96 cent weekly rise in the 18.0 micron MPG in the West was the largest individual MPG increase since the final sale of the 2023 calendar year (14th of December), where three figure rises were recorded. The large rises have encouraged sellers to the market, pushing next week's national offering up to 42,005 bales.
Table showing wool prices for Season 2024/25, Week 15
Graph showing Eastern Market Indicator (EMI)
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Read previous reports
Wool market update 4 October
Wool market update 27 September
Wool market update 20 September