The Australian wool market has had an up and down series this week, to record an overall negative result by the barest of margins.
The national quantity was again small for this time of year, with just 29,323 bales available to the trade.
On the first day of selling the movements in the individual Micron Price Guides (MPGs) for merino fleece were varied, ranging from minus 10 to plus 37 cents.
The skirting market was generally fully firm, with some selected specialty lots recording increases. The crossbred sector recorded small gains, and the oddment market was generally unchanged.
The result of these movements was a 4 cent rise in the benchmark AWEX Eastern Market Indicator (EMI).
Due to a strengthening of the Australian dollar (the AUD added nearly a full cent compared to the US dollar since the close of last week’s sales) when viewed in USD terms the overall increase was larger. The EMI gained 13 US cents for the day. This 13 US cent rise, was the largest USD daily rise in the EMI since April.
On the second day of selling only Sydney and Melbourne were in operation and the market generally retracted. The largest falls were in merino fleece types, with the MPG movements ranging from plus 3 to minus 30 cents.
There were minimal movements in the skirting and carding markets. The crossbreds recorded further positive results, preventing the EMI from a larger fall than the 5 cent drop recorded. The EMI closed the week one cent lower at 1,098 cents.
With minimal currency movement before the final day, the EMI dropped by just one US cent for the second day. The EMI finished the series 12 US cents higher, closing at 743 US cents, a 1.6 per cent increase.
Next week’s offering is expected to increase. There are currently 34,378 bales on offer in Sydney, Melbourne and Fremantle.
Table showing wool prices for Season 2024/25, Week 12
Graph showing Eastern Market Indicator (EMI)
For full details of auction sales, download the reports below.
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The information contained in this article is given for general information purposes only, current at the time of first publication, and does not constitute professional advice. The article has been independently created by a human author using some degree of creativity through consultation with various third-party sources. Third party information has been sourced from means which Elders consider to be reliable. However, Elders has not independently verified the information and cannot guarantee its accuracy. Links or references to third party sources are provided for convenience only and do not constitute endorsement of material by third parties or any associated product or service offering. While Elders has exercised reasonable care, skill and diligence in preparation of this article, many factors including environmental/seasonal factors and market conditions can impact its accuracy and currency. The information should not be relied upon under any circumstances and, to the extent permitted by law, Elders disclaim liability for any loss or damage arising out of any reliance upon the information contained in this article. If you would like to speak to someone for tailored advice specific to your circumstances relating to any of the matters referred to in this article, please contact Elders.
Read previous reports
Wool market update 13 September
Wool market update 6 September