This week's wool market performance was a delicate balancing act, teetering between currency-driven gains and international headwinds. The Eastern Market Indicator (EMI) closed at 1,262¢, a modest 13¢ rise in local terms from the previous week. However, when converted to US dollars, the USD-EMI dropped by 34¢ to 753¢, a 4.3% drop.
Despite these market fluctuations, there were 32,458 bales sold with an overall offering of 34,168 bales nationally—down 4,261 bales from the previous week. The pass-in rate remained relatively stable at 5.0%, in line with the season’s average.
All three selling centres finished the week on a positive note. The Northern Market Indicator (NMI) gained 12¢ to close at 1,299¢/kg, the Southern Market Indicator (SMI) rose 14¢ to 1,237¢/kg, and the Western Market Indicator (WMI) added 11¢ to end at 1,425¢/kg.
In Sydney, 19.5 MPG lifted 29¢ to 1,568¢/kg, while 18.5 micron was up 25¢ to 1,621¢/kg. Melbourne recorded strong results in the finer microns, with 16.5 micron gaining 32¢ to 1,810¢/kg and 18.5 micron up 28¢ to 1,612¢/kg. Fremantle also posted solid gains, with 19.5 micron up 21¢ to 1,552¢/kg and 19.0 micron adding 20¢ to finish at 1,574¢/kg.
Superfine wools performed well across all centres, with gains in Sydney, Melbourne, and Fremantle. Merino cardings saw strong gains particularly in Fremantle, up 13 cents to 764 c/kg clean. The crossbred sector remained steady, with Melbourne’s 28 MPG leading the way, up 15 cents to 460 c/kg.
This week, Mecardo’s Andrew Woods examined Queensland’s sheep and wool numbers (read article here), noting that despite historically low flock numbers, wool production in the region has shown resilience in recent years. He found that northern Queensland wool, particularly in the 18-20 micron range, continues to maintain a slight price premium.
Next week
Next week marks the final sale before the annual one-week Easter recess, with 43,678 bales currently rostered across the three centres. Sydney will host a feature sale at the Royal Easter Show.
This week’s wool market performance was a delicate balancing act, teetering between currency-driven gains and international headwinds. The Eastern Market Indicator (EMI) closed at 1,262¢,
Given the massive flooding in Queensland, the natural question is what impact will this have on livestock supply, and consequently prices? This article takes a
Independent analysis and outlook for wool, livestock and grain markets delivered to you as it’s published
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Our team of market analysts are recognised as leaders in Australian Ag market analysis, providing invaluable insights to help you navigate the ever-changing commodity landscape.
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.
A tale of two currencies in the wool market
Despite these market fluctuations, there were 32,458 bales sold with an overall offering of 34,168 bales nationally—down 4,261 bales from the previous week. The pass-in rate remained relatively stable at 5.0%, in line with the season’s average.
All three selling centres finished the week on a positive note. The Northern Market Indicator (NMI) gained 12¢ to close at 1,299¢/kg, the Southern Market Indicator (SMI) rose 14¢ to 1,237¢/kg, and the Western Market Indicator (WMI) added 11¢ to end at 1,425¢/kg.
In Sydney, 19.5 MPG lifted 29¢ to 1,568¢/kg, while 18.5 micron was up 25¢ to 1,621¢/kg. Melbourne recorded strong results in the finer microns, with 16.5 micron gaining 32¢ to 1,810¢/kg and 18.5 micron up 28¢ to 1,612¢/kg. Fremantle also posted solid gains, with 19.5 micron up 21¢ to 1,552¢/kg and 19.0 micron adding 20¢ to finish at 1,574¢/kg.
Superfine wools performed well across all centres, with gains in Sydney, Melbourne, and Fremantle. Merino cardings saw strong gains particularly in Fremantle, up 13 cents to 764 c/kg clean. The crossbred sector remained steady, with Melbourne’s 28 MPG leading the way, up 15 cents to 460 c/kg.
This week, Mecardo’s Andrew Woods examined Queensland’s sheep and wool numbers (read article here), noting that despite historically low flock numbers, wool production in the region has shown resilience in recent years. He found that northern Queensland wool, particularly in the 18-20 micron range, continues to maintain a slight price premium.
Next week
Next week marks the final sale before the annual one-week Easter recess, with 43,678 bales currently rostered across the three centres. Sydney will host a feature sale at the Royal Easter Show.
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Data sources: AWEX, ICS, Mecardo
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A tale of two currencies in the wool market
This week’s wool market performance was a delicate balancing act, teetering between currency-driven gains and international headwinds. The Eastern Market Indicator (EMI) closed at 1,262¢,
Queensland sheep and wool numbers
Given the massive flooding in Queensland, the natural question is what impact will this have on livestock supply, and consequently prices? This article takes a
Wool market maintains a steady climb
The Australian wool market reverted to its recent upward trend this week, with the Eastern Market Indicator (EMI) rising 4 cents to close at 1,249
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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.
MEET THE TEAM
Our team of market analysts are recognised as leaders in Australian Ag market analysis, providing invaluable insights to help you navigate the ever-changing commodity landscape.
SERVICES AND CAPABILITIES STATEMENT BROCHURE
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.