The Australian wool market has had an all too familiar series, minimal daily market fluctuations to finish with a small overall fall for the week.
The national offering rose to 38,425 bales. This was 5,059 bales more than the previous week. In the merino fleece sector, price results were mixed across microns.
The movements in the individual Merino Price Guides (MPGs) across the country ranged between plus 10 and minus 22 cents.
The benchmark AWEX Eastern Market Indicator (EMI) added one cent on the first day before dropping three on the second, for a two cent overall fall for the series. It closed at 1,142 cents.
The last 18 daily movements in the EMI have been less than 10 cents. 17 of these have been by 5 cents or less. The average daily movement of the EMI across these 18 selling days has been less 3 cents, taking both negative and positive movements into account. Of the 18 daily market movements, 10 have been positive and of these 10 EMI increases, 5 have been by just one cent.
Over the past 12 months broader fleece types have performed better than their finer counterparts, so much so that some of the crossbred fleece Micron Price Guides (MPGs) are at higher points than a year ago. Comparisons are best made using the Southern MPGs.
The 17.0 micron MPG is currently 1,693 cents compared to 1,855 cents at the corresponding sale of the previous season. This is a drop of 162 cents. The 18.0 micron has fallen by 106 cents, 19.0 micron by 51 cents, 20.0 micron by 25 cents and 21.0 micron by just 14 cents.
When we get into the crossbreds the news is more positive, despite the falls recorded in this series.
The 26.0 micron MPG is 25 cents higher, the 28.0 is 45 cents higher, the 30.0 is 33 cents higher and the 32.0 is 10 cents higher.
Next week there is expected to be 39,896 bales on offer nationally.
Table showing wool prices for Season 2024/25, Week 23
Graph showing Eastern Market Indicator (EMI) to 29 November 2024
For full details of auction sales, download the reports below.
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