Prices declined as the market experienced a rocky start to the 2026/27 wool marketing year. Whether the declines were purely supply driven is yet to be determined but for this week at least, the demand for the wool offered was not strong enough to keep the price momentum going.
The Eastern Market Indicator (EMI) fell sharply this week, down 39¢ to 1904¢ in Australian dollar terms (AUD) and down 30¢ to 1312¢ in United States dollar (USD) term. The bale offering for the past 7 weeks has been under 30,000, reaching as low as 21,251 two weeks ago. This week’s relatively high offering of 32,259 potentially rocked the boat as the pass in rate reached 16.9% this week.
All local market indicators were down this week with Sydney sliding 34¢ to 1971¢, Melbourne by 42¢ to 1860¢ and Fremantle by 57¢ to 2072¢.
In Sydney, 17 MPG was down by 45¢ to 2617¢, 18 MPG lost 56¢ to 2497¢ and 20 MPG dropped by 35¢ to 2120¢. Crossbred 28 MPG was stable at 900¢ and cardings fell by 23¢ to 1231¢.
In Melbourne, losses were seen for fine merino with 17.5 MPG down by 57¢ to 2567¢, 18.5 MPG was 56¢ lower to 2419¢ and 19.5 MPG lost by 82¢ to 2185¢. There were some green shoots for crossbred wool in Melbourne with 28 MPG gaining 13¢ to 885¢ and 30 MPG up by 3¢ to 745¢ but this didn’t extend to cardings, which fell by 23¢ to 1196¢.
In the west, the prices dropped across the board with 18 MPG down by 93¢ to 2460¢, 19 MPG down by 59¢ to 2292¢ and 20 MPG down by 49¢ to 2125¢. Cardings also were down by 22¢ to 1198¢.
This week in Mecardo, Andrew Woods discusses the price and supply of merino wool this season with a look at how supply has supported broad merino wool prices and worked against fine merino prices (article is available in the link here).
The week ahead….
Next week the bale offering is projected to fall slightly by 2% to 31,583 which is still one of the highest offerings in recent weeks. Auctions are scheduled for Tuesday and Wednesday in Sydney and Melbourne and Tuesday only in Fremantle.
The market remains sensitive to volume changes currently, with a mixed bag for indicators this week and slight improvement overall as volumes eased. The Eastern
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EMI down on another strong offering
The Eastern Market Indicator (EMI) fell sharply this week, down 39¢ to 1904¢ in Australian dollar terms (AUD) and down 30¢ to 1312¢ in United States dollar (USD) term. The bale offering for the past 7 weeks has been under 30,000, reaching as low as 21,251 two weeks ago. This week’s relatively high offering of 32,259 potentially rocked the boat as the pass in rate reached 16.9% this week.
All local market indicators were down this week with Sydney sliding 34¢ to 1971¢, Melbourne by 42¢ to 1860¢ and Fremantle by 57¢ to 2072¢.
In Sydney, 17 MPG was down by 45¢ to 2617¢, 18 MPG lost 56¢ to 2497¢ and 20 MPG dropped by 35¢ to 2120¢. Crossbred 28 MPG was stable at 900¢ and cardings fell by 23¢ to 1231¢.
In Melbourne, losses were seen for fine merino with 17.5 MPG down by 57¢ to 2567¢, 18.5 MPG was 56¢ lower to 2419¢ and 19.5 MPG lost by 82¢ to 2185¢. There were some green shoots for crossbred wool in Melbourne with 28 MPG gaining 13¢ to 885¢ and 30 MPG up by 3¢ to 745¢ but this didn’t extend to cardings, which fell by 23¢ to 1196¢.
In the west, the prices dropped across the board with 18 MPG down by 93¢ to 2460¢, 19 MPG down by 59¢ to 2292¢ and 20 MPG down by 49¢ to 2125¢. Cardings also were down by 22¢ to 1198¢.
This week in Mecardo, Andrew Woods discusses the price and supply of merino wool this season with a look at how supply has supported broad merino wool prices and worked against fine merino prices (article is available in the link here).
The week ahead….
Next week the bale offering is projected to fall slightly by 2% to 31,583 which is still one of the highest offerings in recent weeks. Auctions are scheduled for Tuesday and Wednesday in Sydney and Melbourne and Tuesday only in Fremantle.
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Data sources: AWEX, Mecardo
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There were no auctions in the west this week, which brought a lower than typical bale offering. However demand leaned on the weak side relative
Broad merino supply and price in Australia
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The 2025-26 season was a good one generally for wool with prices up by 30-40% (season averages) for the AWEX MPGs across the board in
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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.
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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.