Wool market update

Records continued to tumble at wool auctions this week. The AWEX Eastern Market Indicator (AWEX EMI) climbing a further 112 cents across the two selling days.  

The gains came on top of last week’s 109 cent surge and was the fifth largest weekly rise since AWEX began reporting.  

The rally has now stretched to 11 consecutive weeks, the longest winning run since 1987. Over that period, the EMI has lifted 358 cents in total, marking it the largest unbroken cumulative increase in the benchmark indicator since 1979.  

Finer microns again attracted the strongest competition, with buyers narrowing their discounts to secure volume. Solid premiums were still evident for select types, particularly non mulesed and those carrying certification under integrity schemes such as AUTH, RWS, and SW.  

A number of ultra fine lots under 14.5 micron were offered along the eastern seaboard, returning prices from 3,000 to over 8,000 cents per kilogram clean. 

The highlight of the week was two lots approved as 1PP — the pinnacle of wool growing excellence.  

Other micron categories also performed well with most 19 micron and broader indicators now sitting at or near the 100th decile compared with the past five years. Merino skirtings tracked fleece values higher, meeting strong overseas demand and sparking fierce competition. 

Crossbred fleece also posted gains, particularly finer comeback types that benefited from alignment with Merino demand. Broader crossbreds were less favoured but still managed to hold positive ground. 

Merino cardings were mixed: true carbonising types lifted only slightly, while longer types suitable for combing into open tops rose strongly, reflecting the robust demand profile in the Merino sector.  

Volumes are forecast to lift next week to 40,904 bales in Sydney, Melbourne and Fremantle.