Wool market update - 24 January

The latest on the Australian wool market Season 24 Week 30 direct from the Elders wool team.

In contrast to the preceding sale, the national offering this week decreased by 12,148 bales, resulting in a total of 37,757 bales. 

The scheduled sale days were limited to Tuesday and Wednesday due to a national public holiday on Friday. 

The ongoing softer trend from the previous fortnight persisted this week, with both days experiencing losses. Out of the eight selling days in 2024, six have recorded a decline in market values. 

The AWEX Eastern Market Indicator concluded this series 10 cents lower at 1186 cents.

The initial day observed the most significant downturn, with prices ranging 5 to 65 cents lower than the previous week. 

Superfine types were particularly impacted and the 16.5 Micron Price Guide registered the most substantial decline. Broader microns experienced a slight dip of 5 cents. Thursday displayed a more positive outlook with pockets of strength offsetting weaker areas. 

Superfine microns continued to lack support, generally finishing lower, while broader microns showed a slight firming against improved support. The neighbouring Crossbred microns also attracted reasonable support, resulting in a 5 cent increase for the sale.

Merino Skirtings followed the downward trend of fleece types, closing as much as 40 cents clean lower. Merino Cardings displayed mixed results, with minor losses on the East coast balanced by gains in Fremantle. 

The highlight of the week was a 12.9 micron line that sold for 12,600 cents greasy, marking the highest price since November 2021. 

Next week is another two day pattern of sales with 36,535 bales currently rostered for sale.


Table showing wool prices for Season 24, Week 30
Graph showing Eastern Market Indicator (EMI)

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

Read previous report

Wool market update - 19 January

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