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 this week. The Eastern Market Indicator (EMI) this week closed at 1,138 ¢/kg clean up 3 whilst the Western Market Indicator rose by 1¢ to 1263¢/kg.
Variations in the quality of Sydney’s Merino fleece offering produced differing prices across both days. 18MPG lost 17¢ to 1494¢/kg and 20MPG increased 17¢ to 1311¢/kg.
There was strong competition for ideal lots (Fine, stylish (MF3 & MF4) lots with low (FNF) VM and low (<40%) CVH). Low (<3%) VM Merino skirtings gained ground on Wednesday with minor price movements on Thursday.
Buyers avoided Merino fleece lots with higher (>1.5%) VM levels in Melbourne in a generally softer market with only the 21 MPGs ending the week higher, up 15¢ to 1296¢/kg. Finer (< 18 μm) Merino skirtings were keenly sought on Wednesday (up 10 cents) before losing ground on Thursday. 18MPG lost 20¢ to 1517¢/kg for the week.
It was another solid week for crossbreds, the 28 MPG jumped 28 cents in Sydney and 30¢ in Melbourne. Similarly, 30MPG in Melbourne increased 30¢ to 383¢/kg. The crossbred wool leading the way for the market this week to tip the scales toward an overall stronger wool market for the week.
The national offering comprised 37,159 bales of Australian origin with a further 2,649 bales from New Zealand. 36792 bales were sold as the national pass-in rate reached 7.2% (excl. NZ wool) which was lower than last week despite a larger offering this week. The Sydney pass-in rate was 6.2%.
42,266 bales are currently rostered for next week’s sales which will operate on Tuesday and Wednesday at all three centres.
Next week
42,266 bales are currently rostered for next week’s sales which will operate on Tuesday and Wednesday at all three centres.
The wool market continued to push higher this week, building on early-season momentum. The EMI lifted 9 cents to 1,222 cents, supported by solid demand
One of the big challenges to the wool market in Australia is the growing demand for non-mulesed wool, with premiums for non-mulesed RWS-accredited wool rising
The wool market has maintained its steady start to the new selling season, posting its second consecutive weekly rise. The Eastern Market Indicator (EMI) closed
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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.
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Crossbred types show the way
Medium and broader Merino fleece MPGs were favoured at the expense of finer MPGs across the country this week. The Eastern Market Indicator (EMI) this week closed at 1,138 ¢/kg clean up 3 whilst the Western Market Indicator rose by 1¢ to 1263¢/kg.
Variations in the quality of Sydney’s Merino fleece offering produced differing prices across both days. 18MPG lost 17¢ to 1494¢/kg and 20MPG increased 17¢ to 1311¢/kg. There was strong competition for ideal lots (Fine, stylish (MF3 & MF4) lots with low (FNF) VM and low (<40%) CVH). Low (<3%) VM Merino skirtings gained ground on Wednesday with minor price movements on Thursday.
Buyers avoided Merino fleece lots with higher (>1.5%) VM levels in Melbourne in a generally softer market with only the 21 MPGs ending the week higher, up 15¢ to 1296¢/kg. Finer (< 18 μm) Merino skirtings were keenly sought on Wednesday (up 10 cents) before losing ground on Thursday. 18MPG lost 20¢ to 1517¢/kg for the week.
It was another solid week for crossbreds, the 28 MPG jumped 28 cents in Sydney and 30¢ in Melbourne. Similarly, 30MPG in Melbourne increased 30¢ to 383¢/kg. The crossbred wool leading the way for the market this week to tip the scales toward an overall stronger wool market for the week.
The national offering comprised 37,159 bales of Australian origin with a further 2,649 bales from New Zealand. 36792 bales were sold as the national pass-in rate reached 7.2% (excl. NZ wool) which was lower than last week despite a larger offering this week. The Sydney pass-in rate was 6.2%.
42,266 bales are currently rostered for next week’s sales which will operate on Tuesday and Wednesday at all three centres.
Next week
42,266 bales are currently rostered for next week’s sales which will operate on Tuesday and Wednesday at all three centres.
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Data sources: AWI, AWEX, Mecardo
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Market gains ground ahead of recess
The wool market continued to push higher this week, building on early-season momentum. The EMI lifted 9 cents to 1,222 cents, supported by solid demand
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One of the big challenges to the wool market in Australia is the growing demand for non-mulesed wool, with premiums for non-mulesed RWS-accredited wool rising
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The wool market has maintained its steady start to the new selling season, posting its second consecutive weekly rise. The Eastern Market Indicator (EMI) closed
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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.