Market steadies as AUD rises
The wool market has eased slightly this week after a fortnight of good price rises. In a tale of two sales, fine wool found support while broader categories and cardings succumbed to the stronger Aussie dollar. The Eastern Market Indicator (EMI) eased 4ȼ to 1166ȼ/kg while in US dollar terms it continued to improve lifting […]
Merino wool market produces an up-lift
Keen competition for Merino fleece underpinned an 11¢ rise in the EMI to 1,139 ¢/kg clean this week. This encouraged sellers and resulted in good clearance with low pass-in rates across the auction centres. There was solid support for this week’s designated Superfine sale in Sydney, which produced solid price rises across the MPG range […]
How did the lamb market get here?
The last peak in lamb prices was 22 months ago, since then the lamb price (NSW trade lamb) has fallen 54%, hovering around 450¢/kg cwt. The question is, how did we get here and what is the outlook? The answer is entangled in a number of supply and demand factors that have created a market […]
Lack-lustre market
The market slid lower this week, with all sections struggling to maintain recent levels. The crossbred section ended its recent run of stronger prices to post 5 to 20¢ drops week on week. The Eastern Market Indicator (EMI) fell 10¢ to 1,128¢/kg, however, the weaker Au$ cushioned the decline in US¢, as the EMI in […]
Crossbred types show the way
Small gains were at best the only moves in the Merino section this week. However, it was again the crossbred section that sustained its recent positive run and lifted the EMI to 1,138 ¢/kg , a 3¢ improvement. Medium and broader Merino fleece MPGs were favoured at the expense of finer MPGs across the country […]
Market drifts lower
It was an unusual week of selling with a smaller offering spread across three selling days, with only Sydney and Fremantle selling on Thursday. While the market trended down early in the week there were bright spots on the final day. AWEX reported lack-lustre bidding on lots with higher CVH and/or VM content, this resulted […]
Buyers wary as Tassie lots shine
There was a cautious opening to this week’s market, and while some types gained support as the week unfolded, it was a mixed bag. Finer MPGs (17 & 17.5 MPG) ended the week higher (up 3 & 4ȼ respectively), with broader MPGs lower. Price falls in the Merino fleece sector produced this week’s 4ȼ reduction […]
Mixed messages
The market opened this week on a distinctly weaker note, with AWEX reporting the Eastern Market Indicator (EMI) on Tuesday posted its lowest level since October 2020. This was turned around on the second day with all categories improving, pushing the EMI back up to end the week just 4 cents lower on last week. […]
Quiet return for wool sales
There were minor movements in the EMI as the wool market returned to sales in all centres. With shearing continuing during the wool market winter recess, this week is traditionally one of the more extensive offerings for the season. The AWEX Eastern Market Indicator (EMI) dropped by 3¢ for the series, closing at 1,176¢/kg. With […]
Aussie dollar impacts market
The budget week always reinforces the important impact of macroeconomic forces on Australian households, businesses, and markets. This week’s wool market is an excellent example of this as exchange rates, in particular the stronger Australian dollar have impacted the market causing prices to fall. The Aussie dollar was (US$) 0.89ȼ stronger to US$0.675 pushing prices […]
Another strong clearance
While prices could be stronger, there is much to be said about the volumes that are flowing through the system. For April, in the 16.5 to 21.5 MPG range (where the bulk of merino wool sits), just 9,300 bales (or 9.3%) of the 100,000 bales offered were passed in. By contrast, in the 23 to […]
Market steady again
The wool market seems to be chugging along in a similar pattern to recent weeks, with bales cleared hovering around the 40k mark. In the AWEX report this week, it was noted that the difference in demand & price between sound, better style, and quality-assured wool types was again evident. AWEX also noted that the […]
