The EMI had a slight fall this week as larger losses in fine and medium merino were offset by a strong week for crossbred wool and cardings in Sydney and Melbourne. Overall, the EMI fell by 10¢ to 1876¢, pass in rates remained relatively stable falling from 7.3% to 7% as did the AUD/USD exchange rate down 0.13¢ to 72.37¢ after strong gains the week before. The bale offering fell from 33,055 to 29,705 the lowest offering since the second week of November last year.
All Local market indicators fell this week with Sydney down by 8¢ to 1956¢, Melbourne was by 11¢ to 1823¢ and Fremantle by 22¢ to 2089¢.
In Sydney, Fine and medium merino was down across the board with 19 MPG down 20 to 2538¢, 19 MPG down 17¢ to 2331¢ and 20 MPG down by 34¢ to 2130¢. Crossbred wool 28 MPG raised 20¢ to 755¢ and Cardings gained 18¢ to 1154¢.
In Melbourne, 18 MPG was down 18¢ to 2494¢, 19 MPG was down by 22¢ to 2289¢ and 20 MPG was down by 31¢ to 2117¢. Crossbred wool was up across the board with 28 MPG up 25¢ to 730¢ as was cardings, climbing 5¢ to 1117¢.
In the west 18 MPG was down by 29¢ to 2502¢, 19 MPG was down by 15¢ to 2316¢ and 20 MPG was down by 28¢ to 2131¢. Cardings remained flat at 1137¢.
The price of synthetic fibres has been gaining for the past two months since the conflict in the Middle East began. Mecardo first looked into the relationship between the price of synthetics compared to natural fibres including wool in early March, shortly after the conflict began (Article available here) This week In Mecardo, Andrew Woods provides an update on how these prices are faring during the prolonged conflict (Article available here).
The week ahead….
This week the EMI fell despite the bale offering being the lowest in 7 months. Next week the bale offering is expected to rise slightly by 5.5% to 31,334.
Auctions are scheduled for Tuesday and Wednesday in Sydney and Melbourne and on Tuesday only in Fremantle.
A reader has asked whether synthetic fibre prices have settled down, implying there is an equilibrium price level for these fibres. That implication is not
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Crossbred wool steady
All Local market indicators fell this week with Sydney down by 8¢ to 1956¢, Melbourne was by 11¢ to 1823¢ and Fremantle by 22¢ to 2089¢.
In Sydney, Fine and medium merino was down across the board with 19 MPG down 20 to 2538¢, 19 MPG down 17¢ to 2331¢ and 20 MPG down by 34¢ to 2130¢. Crossbred wool 28 MPG raised 20¢ to 755¢ and Cardings gained 18¢ to 1154¢.
In Melbourne, 18 MPG was down 18¢ to 2494¢, 19 MPG was down by 22¢ to 2289¢ and 20 MPG was down by 31¢ to 2117¢. Crossbred wool was up across the board with 28 MPG up 25¢ to 730¢ as was cardings, climbing 5¢ to 1117¢.
In the west 18 MPG was down by 29¢ to 2502¢, 19 MPG was down by 15¢ to 2316¢ and 20 MPG was down by 28¢ to 2131¢. Cardings remained flat at 1137¢.
The price of synthetic fibres has been gaining for the past two months since the conflict in the Middle East began. Mecardo first looked into the relationship between the price of synthetics compared to natural fibres including wool in early March, shortly after the conflict began (Article available here) This week In Mecardo, Andrew Woods provides an update on how these prices are faring during the prolonged conflict (Article available here).
The week ahead….
This week the EMI fell despite the bale offering being the lowest in 7 months. Next week the bale offering is expected to rise slightly by 5.5% to 31,334.
Auctions are scheduled for Tuesday and Wednesday in Sydney and Melbourne and on Tuesday only in Fremantle.
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Data sources: AWEX, Mecardo
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Have any questions or comments?
Fibre prices
A reader has asked whether synthetic fibre prices have settled down, implying there is an equilibrium price level for these fibres. That implication is not
Price stable as offering declines
A lower bale offering helped the Australian wool market set a very modest overall price rise, with the Eastern Market Indicator (EMI) up by 1¢
Merino supply and price
Supply is the topic of the moment in discussions about the greasy wool market, or more accurately low supply and its impact on price. Supply
Sellers unwilling to part with wool at current market
This week prices fell in the Australian wool market and pass in rates remain high as volumes have been slowly creeping back up to 30,000
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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.