A much smaller offering due to no sales in the west saw strong buyer support across most indicators. There were some significant falls for the 17-18.5 MPG’s in Melbourne, but lifts in their Sydney counterparts saw the EMI stay put for a second week in a row.
The EMI is at 1342ȼ/kg for the third week in a row, although like last week, due to a continued weakening in the aussie dollar (down 0.42ȼ), in US dollar terms the EMI fell again, down 6 cents to 926ȼ/kg.
Most of the micron categories lifted on the week prior in Sydney, albeit modestly, by 1 to 9 cents, bar the 16.5 and 17.5 MPG’s which fell 8 & 6 cents respectively. There were bigger falls in Melbourne with the 17 to 18.5 MPG’s down between 5 & 36ȼ’s. Falls in the south were balanced out by rises in the north, hence the EMI didn’t budge again.
Looking at crossbreds and in Melbourne only the 26 micron lifted, by 8 cents, while the 28-32 microns all fell between 3 and 12 cents. There was no movement for the crossbred indicators in Sydney.
Cardings had a positive week, lifting 9 cents in Sydney and 15 in Melbourne.
There were significantly less bales on offer this week due to no sales in the west. 37,431 bales were offered, with a pass-in rate of 12.6%, resulting in 32,712 bales sold, the lowest amount so far for the 2022/23 season. The average bales sold for this season is still nearly 5,000 bales higher than last season.
This week on Mecardo, Andrew Woods took a look at correlations between the performance of the German manufacturing sector, via the IFO index, and merino prices both in AUD & USD. Andrew also took a look at the recent performance of short staple length wool, via 10 year percentiles.
The week ahead….
Next week WA is back in the fold, and as such we have a bigger offering – there are 39,192 bales scheduled for sales across the 3 main centres on Tuesday and Wednesday.
When wool buyers walked into selling centres to start the week, Australian wool was more expensive for exporters before bidding began. This set the tone
In November Mecardo looked at crossbred wool volumes, price and gross sale value which showed an increased volume of wool sold at auction accompanied by
Independent analysis and outlook for wool, livestock and grain markets delivered to you as it’s published
Listen to the podcast
Join the Mecardo team for the Commodity Conversations podcast, where we provide short weekly market recaps and longer conversations with guests to discuss the drivers and trends in livestock, grain and fibre markets.
In this report for LiveCorp and MLA, we analysed the historical trends in the demographics of the Australian sheep flock, examining domestic factors that influence farm-level enterprise decision making.
We don’t just bring you the most up to date market insights. Find out more about Mecardo’s services including risk management advisory, modelling, benchmarking, research & consultancy.
North balances out south
The EMI is at 1342ȼ/kg for the third week in a row, although like last week, due to a continued weakening in the aussie dollar (down 0.42ȼ), in US dollar terms the EMI fell again, down 6 cents to 926ȼ/kg.
Most of the micron categories lifted on the week prior in Sydney, albeit modestly, by 1 to 9 cents, bar the 16.5 and 17.5 MPG’s which fell 8 & 6 cents respectively. There were bigger falls in Melbourne with the 17 to 18.5 MPG’s down between 5 & 36ȼ’s. Falls in the south were balanced out by rises in the north, hence the EMI didn’t budge again.
Looking at crossbreds and in Melbourne only the 26 micron lifted, by 8 cents, while the 28-32 microns all fell between 3 and 12 cents. There was no movement for the crossbred indicators in Sydney.
Cardings had a positive week, lifting 9 cents in Sydney and 15 in Melbourne.
There were significantly less bales on offer this week due to no sales in the west. 37,431 bales were offered, with a pass-in rate of 12.6%, resulting in 32,712 bales sold, the lowest amount so far for the 2022/23 season. The average bales sold for this season is still nearly 5,000 bales higher than last season.
This week on Mecardo, Andrew Woods took a look at correlations between the performance of the German manufacturing sector, via the IFO index, and merino prices both in AUD & USD. Andrew also took a look at the recent performance of short staple length wool, via 10 year percentiles.
The week ahead….
Next week WA is back in the fold, and as such we have a bigger offering – there are 39,192 bales scheduled for sales across the 3 main centres on Tuesday and Wednesday.
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Data sources: AWEX, AWI, Mecardo
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Independent analysis and outlook for wool, livestock and grain markets delivered to you as it’s published
Listen to the podcast
Join the Mecardo team for the Commodity Conversations podcast, where we provide short weekly market recaps and longer conversations with guests to discuss the drivers and trends in livestock, grain and fibre markets.
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In this report for LiveCorp and MLA, we analysed the historical trends in the demographics of the Australian sheep flock, examining domestic factors that influence farm-level enterprise decision making.
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We don’t just bring you the most up to date market insights. Find out more about Mecardo’s services including risk management advisory, modelling, benchmarking, research & consultancy.