After a period of elevated supply and the aussie dollar resisting further declines, the wool market was able to retrace recent losses this week. Momentum from the Northern superfine sale and supply relief pushed the market higher as the Eastern Market Indicator (EMI) rose 11¢ to 1195¢/kg.
The designated superfine sale in Sydney opened to firmer demand as fine merino MPG’s saw prices rise from 5 to 42¢. Northern supply levels were steady week on week, but the market was keen on the offering as merino fleece averaged a 4% improvement week on week to 1069 c/kg greasy. 17.5 MPG in Sydney jumped 42¢ to 1650¢/kg.
Whilst not getting the steepest increases, all merino MPG’s (excluding 16.5 micron) saw double digit improvement in the Southern market. 18 MPG in Melbourne improved 25¢ to 1558¢/kg. The Western Market Indicator (WMI) rose 16¢ to 1359¢/kg with all categories improving between 14 and 25¢. 21 MPG in Fremantle was 18¢ higher to 1438¢/kg.
37,438 bales were sold this week as both Northern and Western sellers were keen to make the most of the upbeat market. The national pass in rate averaged 5.8%.
Cross bred wool took a back seat this week with 25MPG in Melbourne improving 9¢ the best result to be seen. Merino cardings were unchanged in Sydney at 726¢, up 4¢ in Melbourne to 728¢ and 3¢ higher in Fremantle to 756¢.
Andrew Woods provided an update on RWS premiums for Mecardo this week (read more here). Premiums for quality scheme accredited non-mulesed wool have picked up since mid-2024. Currently, merino fleece wool of reasonable quality and accredited is achieving premiums of 5-9% for most micron categories. When comparing non-mulesed wool that isn’t accredited against declared mulesed, pain relief or no declaration type wools; the median price effect reveals minimal price differences.
Next week
After a big week in the Northern market, next week’s forecast offering will be 34% lower week on week. Upcoming auction week forecasts look to be around the 36K bale mark in terms of volume. Sellers will be hoping to keep this week’s momentum as supply evens out.
The offering is forecast lower next week to 34 697 bales across all three centres which are all open Tuesday and Wednesday.
The wool market moderated this week after its recent rally, with the Eastern Market Indicator (EMI) easing 5 cents to 1,245 cents. The other indicators
The Australian wool market posted its fourth consecutive weekly gain, with the EMI adding 8¢ to close at 1,250¢/kg. Strong demand in the Northern market
Premiums for RWS-accredited wool have been increasing this season, which is a welcome change after a lacklustre run through 2023 and 2024. This article takes
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Fine wool finds support
Next week
After a big week in the Northern market, next week’s forecast offering will be 34% lower week on week. Upcoming auction week forecasts look to be around the 36K bale mark in terms of volume. Sellers will be hoping to keep this week’s momentum as supply evens out.
The offering is forecast lower next week to 34 697 bales across all three centres which are all open Tuesday and Wednesday.
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Data sources: AWEX, Nutrien Ag Solutions, 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.
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.