The Australian wool has recorded an overall increase this week. The rise was heavily influenced by a sharp reduction in the Australian dollar (AUD) against the US currency.
On the opening day of selling the Australian dollar (AUD) was trading at 60.59 (down from 63.01 at the close of the previous series).
With such a large fall in the AUD, industry observers were predicting a rise in the market, the only question was by how much. By the end of the day the individual Micron Price Guides (MPGs) for merino fleece had risen by between 10 and 42 cents.
These rises combined with increases in the skirting, crossbred and oddment sectors, resulted in a 15 cent rise in the benchmark AWEX Eastern Market Indicator (EMI). Unfortunately, due to the weakened AUD, when viewed in US dollar (USD) terms the overall result was in stark contrast to rise to the physical market.
The EMI fell by 21 US cents, this equated to a 2.7 pre cent reduction. This was the largest daily US cent drop in the EMI since January 2024.
On the second day the AUD fell to 59.63 US cents. This was the first time the AUD fell below 60 US cents since the COVID 19 pandemic (April 2020).
With this further drop in the AUD many predicted further rises in the physical market. There were some rises on the second day but they were outweighed by the falls.
The EMI dropped by 2 cents, closing the series 13 cents higher at 1,262 cents. In USD the market retracted further, dropping another 13 US cents. The EMI closed the series on 753 US cents, a 34 US cent drop, a fall of 4.3%.
Next week is the last sale before the annual one week Easter recess. There are currently 43,678 bales on offer in Sydney, Melbourne and Fremantle.
Sydney will be holding a feature sale at the Sydney Royal Easter Show.
Table showing wool prices for Season 2024/25, Week 41
Graph showing Eastern Market Indicator (EMI) to 10 April 2025
For full details of auction sales, download the reports below.
The information contained in this article is given for the purpose of providing general information only, and while Elders has exercised reasonable care, skill and diligence in its preparation, many factors (including environmental and seasonal) can impact its accuracy and currency. Accordingly, the information should not be relied upon under any circumstances and Elders assumes no liability for any loss consequently suffered. If you would like to speak to someone for tailored advice relating to any of the matters referred to in this article, please contact Elders.
Read previous reports
Wool market update 4 April
Wool market update 28 March
Wool market update 21 March