The Eastern Market Indicator (EMI) saw a small rise this week and crossbred wool and cardings rose for the second week in a row. Offsetting some of the loses felt by finer categories of merino wool. The EMI rose by just 4¢ to 1880¢ in Australian dollar (AUD) terms and slipped by 21¢ in United States Dollar (USD) terms to 1336¢ with the AUD falling to 71.08 US cents.
The offering also saw a marginal change, rising by just 139 bales to 29,844, however buyer interest was stronger. The pass in rate saw a significant shift from 7% last week down to 4% this week. Bales sold this week rose by 3.7% to 28,647 which is 12.1% below the average for the past 12 months of 32,113.
Looking at local market indicators, Sydney rose by 2¢ to 1958¢, Melbourne was up by 5¢ to 1828¢ and Fremantle decrease by 3¢ to 2086¢.
In Sydney, most fine and medium merino microns saw a price rise with 17 MPG up 23¢ to 2648¢ and 19 MPG up 7¢ to 2338¢. Exceptions were 18 MPG which saw a decline by 5¢ to 2533¢, and 20 MPG which saw a 3¢ decrease to 2127¢. Crossbred 28 MPG was up 25¢ to 780¢ and cardings were up 6¢ to 1160¢.
In Melbourne, mixed results in fine and medium merino saw 17 MPG lift 21¢ to 2603¢ and 18 MPG up 8¢ to 2502¢ however 18.5 MPG was down by 7¢ to 2398¢, and 20 MPG was down by 16¢ to 2108¢. Crossbred wool and cardings were up with 26 MPG gaining 34¢ to 989¢, 30 MPG up 20¢ to 620¢ and cardings up 18¢ to 1135¢.
In Fremantle, 18 MPG was up 19¢ to 252¢ however all other fine and medium merino microns were down, with 18.5 MPG down 10¢ to 2408¢ and 20 MPG down 5¢ to 2126¢. Cardings were up 27¢ to 1164¢.
This week in Mecardo, in the face of changing seasonal and geopolitical conditions, Andrew Woods took up the challenge of forecasting where the wool market may be in 2028 if ‘all things were held equal’. His analysis article of recent trends for Australian merino production as a guide for volumes in coming seasons can be found in the link here.
The week ahead….
Weekly bales sold has been below the yearly average for the last 3 weeks. Next week the offering will fall again by 8.4% to 27,334 offered. Auctions are scheduled on Tuesday and Wednesday for Sydney and Melbourne and on Tuesday only in Fremantle.
An uptick in supply couldn’t halt Eastern Market Indicator (EMI) progress, as the EMI improved again this week. This week the United States Dollar (USD)
Crossbred wool prices have endured a torrid time since 2020. Unlike merino, crossbred prices did not bounce back strongly in 2021 following the initial impact
This week the wool bale offering was lower, with a Western Australian public holiday pausing auctions in Fremantle for the week. The offering of 23,413
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.
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.
Currency on the move, but wool market remains steady
The offering also saw a marginal change, rising by just 139 bales to 29,844, however buyer interest was stronger. The pass in rate saw a significant shift from 7% last week down to 4% this week. Bales sold this week rose by 3.7% to 28,647 which is 12.1% below the average for the past 12 months of 32,113.
Looking at local market indicators, Sydney rose by 2¢ to 1958¢, Melbourne was up by 5¢ to 1828¢ and Fremantle decrease by 3¢ to 2086¢.
In Sydney, most fine and medium merino microns saw a price rise with 17 MPG up 23¢ to 2648¢ and 19 MPG up 7¢ to 2338¢. Exceptions were 18 MPG which saw a decline by 5¢ to 2533¢, and 20 MPG which saw a 3¢ decrease to 2127¢. Crossbred 28 MPG was up 25¢ to 780¢ and cardings were up 6¢ to 1160¢.
In Melbourne, mixed results in fine and medium merino saw 17 MPG lift 21¢ to 2603¢ and 18 MPG up 8¢ to 2502¢ however 18.5 MPG was down by 7¢ to 2398¢, and 20 MPG was down by 16¢ to 2108¢. Crossbred wool and cardings were up with 26 MPG gaining 34¢ to 989¢, 30 MPG up 20¢ to 620¢ and cardings up 18¢ to 1135¢.
In Fremantle, 18 MPG was up 19¢ to 252¢ however all other fine and medium merino microns were down, with 18.5 MPG down 10¢ to 2408¢ and 20 MPG down 5¢ to 2126¢. Cardings were up 27¢ to 1164¢.
This week in Mecardo, in the face of changing seasonal and geopolitical conditions, Andrew Woods took up the challenge of forecasting where the wool market may be in 2028 if ‘all things were held equal’. His analysis article of recent trends for Australian merino production as a guide for volumes in coming seasons can be found in the link here.
The week ahead….
Weekly bales sold has been below the yearly average for the last 3 weeks. Next week the offering will fall again by 8.4% to 27,334 offered. Auctions are scheduled on Tuesday and Wednesday for Sydney and Melbourne and on Tuesday only in Fremantle.
Have any questions or comments?
Click on graph to expand
Click on graph to expand
Click on graph to expand
Data sources: AWEX, Mecardo
Categories
Have any questions or comments?
Staple length discounts
With the combination of high wool prices, high sheep meat prices and a rebound in skin prices, interest in calculating the best value pathway (shear
Dollar drop supports market
An uptick in supply couldn’t halt Eastern Market Indicator (EMI) progress, as the EMI improved again this week. This week the United States Dollar (USD)
Crossbred wool prices
Crossbred wool prices have endured a torrid time since 2020. Unlike merino, crossbred prices did not bounce back strongly in 2021 following the initial impact
Another big drop in volumes
This week the wool bale offering was lower, with a Western Australian public holiday pausing auctions in Fremantle for the week. The offering of 23,413
Want market insights delivered straight to your inbox?
Sign up to the mailing list to get regular updates to new analysis and market outlooks
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.