The Australian wool market has recorded a solid overall increase in this series, buoyed by increased buyer demand across all sectors.
On the first day of selling, from the opening lot, buyer activity was noticeably stronger, the spirited bidding helping to push prices higher.
By the end of the day, the movements in the individual Micron Price Guides (MPGs) for merino fleece in Sydney and Melbourne ranged between unchanged and plus 32 cents.
As Fremantle did not suffer the falls felt in the eastern centres, on the second selling day last week, the movements in the west were smaller. The MPG movements ranged between minus 1 and plus 9 cents.
With minimal movements in the skirting and crossbred sectors and a stronger carding market, the benchmark AWEX Eastern Market Indicator (EMI) gained 9 cents for the day. This was the largest daily rise in the EMI since August.
The strong buyer sentiment carried into the second selling day, where only Sydney and Melbourne were in operation. Again, from the opening lot it was apparent that further price increases were on the cards.
By the close of the second selling day the movements in the merino fleece MPGs ranged between unchanged and plus 25 cents. The EMI added another 8 cents.
This marked the eleventh selling day in a row where the EMI posted a single digit movement. The EMI closed the week at 1,104 cents, a weekly gain of 17 cents.
The two daily rises in the EMI in this selling series was only the third time in the 2024/24 selling season that this has occurred. The 17 cent rise in the EMI was the equal highest weekly rise this season, this rise also recorded in Week 4 (24 July).
The EMI also rose in USD terms, the EMI closed the series at 763 US cents, an increase of 14 US cents.
Table showing wool prices for Season 2024/25, Week 14
Graph showing Eastern Market Indicator (EMI)
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Read previous reports
Wool market update 27 September
Wool market update 20 September
Wool market update 13 September