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.
Wool markets opened to underwhelming demand across all centres as the trade approaches Winter and the end of the 2023/24 selling season. Although it is
In mid-2022 Mecardo looked at the international supply of sheep meat (albeit from a limited number of countries) showing how lower supply had positively correlated
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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.
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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Click on graph to expand
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Data sources: AWI, AWEX, 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.
Research: Analysis of the Australian sheep flock
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.