It was “steady-as-she-goes” in the wool market this week, however, the stronger Au$ made wool more expensive for buyers. While the market started slowly on Tuesday, with the market generally softer than its strong start to the calendar year; it was the stylish, well-prepared wools that provided some momentum on Wednesday.
Overall the Eastern Market Indicator (EMI) fell just 3ȼ week on week to 1338ȼ/kg. With the Aussie dollar rising strongly to US$0.71, the EMI when expressed in US$ was 24ȼ/kg higher to 950ȼ/kg (US), a lift of 2.6%.
The absence of fine merino types in the west saw the Western Market Indicator ease back 12ȼ to finish the week at 1475ȼ/kg.
Generally, the market was carried by the merino section of the catalogue, (especially the fine types) which posted gains. The stronger currency proved to be too much for the crossbred section which fell away over the week.
It was a mixed week for Crossbreds; well-prepared lots were in abundance on Tuesday lifting the market, but a return to poorly presented lots saw the market lose ground on Wednesday. The 28 MPG in Melbourne gave up 8 ȼ for the week to 598 ȼ /kg.
Cardings were slightly stronger again this week, improving by 4ȼ in Sydney, down 3ȼ in Fremantle, and holding steady in Melbourne posting no change.
Markets saw a lower offering this week of 44,306 bales, and a higher pass-in rate of 13.2%.
38,467 bales were sold, down 6,166 bales from the previous week. Despite this decline, clearance figures are still consistently above the average weekly sales to date of 35,025. For comparison, last wool sale season the average weekly clearance across the year was 35,488.
This week on Mecardo, Andrew Woods takes a look at the gross value, volume, and price of fine merino wool sold in the first half of this season. The fall in price levels for fine merino since mid-2022 tends to cloud the view of the fine wool market unfairly. Gross sale values for the first half of the season, when compared to the past decade show a more positive story, with the sales value of fine merino tracking at high levels.
The week ahead….
Next week all three selling centres will offer on Tuesday and Wednesday. There are 42,500 bales currently rostered for sale.
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
Sydney and Fremantle markets made up for lost time with big improvements across both the broad and merino fleece categories this week. The lower Aussie
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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.
Fine types carry the day
Overall the Eastern Market Indicator (EMI) fell just 3ȼ week on week to 1338ȼ/kg. With the Aussie dollar rising strongly to US$0.71, the EMI when expressed in US$ was 24ȼ/kg higher to 950ȼ/kg (US), a lift of 2.6%.
The absence of fine merino types in the west saw the Western Market Indicator ease back 12ȼ to finish the week at 1475ȼ/kg.
Generally, the market was carried by the merino section of the catalogue, (especially the fine types) which posted gains. The stronger currency proved to be too much for the crossbred section which fell away over the week.
It was a mixed week for Crossbreds; well-prepared lots were in abundance on Tuesday lifting the market, but a return to poorly presented lots saw the market lose ground on Wednesday. The 28 MPG in Melbourne gave up 8 ȼ for the week to 598 ȼ /kg.
Cardings were slightly stronger again this week, improving by 4ȼ in Sydney, down 3ȼ in Fremantle, and holding steady in Melbourne posting no change.
Markets saw a lower offering this week of 44,306 bales, and a higher pass-in rate of 13.2%.
38,467 bales were sold, down 6,166 bales from the previous week. Despite this decline, clearance figures are still consistently above the average weekly sales to date of 35,025. For comparison, last wool sale season the average weekly clearance across the year was 35,488.
This week on Mecardo, Andrew Woods takes a look at the gross value, volume, and price of fine merino wool sold in the first half of this season. The fall in price levels for fine merino since mid-2022 tends to cloud the view of the fine wool market unfairly. Gross sale values for the first half of the season, when compared to the past decade show a more positive story, with the sales value of fine merino tracking at high levels.
The week ahead….
Next week all three selling centres will offer on Tuesday and Wednesday. There are 42,500 bales currently rostered for sale.
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Click on graph to expand
Click on graph to expand
Data sources: AWEX, AWI, 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.
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.