The Aussie wool market had another strong week across all sectors, with China back in the game and noticeably strong bidding across auctions. Stylish measured lots well rewarded.
The Eastern Market Indicator (EMI) had its second week in a row of positive movement lifting 52ȼ to 1323ȼ/kg and with the Aussie dollar rising (+ 0.70ȼ) to 0.632 US, the EMI rose in US terms, by 42ȼ to 836ȼ/kg.
All types performed well this week across the three selling centres, with lifts ranging between 38 to 158ȼ for microns 22 and finer. The standout performer was the 18 micron in Melbourne lifting 158ȼ on last week to finish the week at 1918ȼ/kg. In Fremantle lifts for 18-21 micron’s were between 63 to 93ȼ with the Western Market Indicator (WMI) finishing the week at 1469ȼ/kg.
Broader types also performed well, Melbourne with lifts between 17 to 45ȼ for the 25 to 30 microns, while there were no quotes for Fremantle, and the 28MPG in Sydney stayed put at 370ȼ/kg. The broader types are still at historically low levels, however. Cardings had some gains too, with the indicator lifting 10ȼ in Sydney, 9ȼ in Fremantle and by 42ȼ in Melbourne.
There were 34,180 bales on offer this week and with a low national pass-in-rate of 5%, 32,482 bales were sold. Average weekly bales sold this season is currently just below last season at 34,475.
Wool markets opened to underwhelming demand across all centres as the trade approaches Winter and the end of the 2023/24 selling season. Although it is
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
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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.
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.
Lifts all round for wool
The Eastern Market Indicator (EMI) had its second week in a row of positive movement lifting 52ȼ to 1323ȼ/kg and with the Aussie dollar rising (+ 0.70ȼ) to 0.632 US, the EMI rose in US terms, by 42ȼ to 836ȼ/kg.
All types performed well this week across the three selling centres, with lifts ranging between 38 to 158ȼ for microns 22 and finer. The standout performer was the 18 micron in Melbourne lifting 158ȼ on last week to finish the week at 1918ȼ/kg. In Fremantle lifts for 18-21 micron’s were between 63 to 93ȼ with the Western Market Indicator (WMI) finishing the week at 1469ȼ/kg.
Broader types also performed well, Melbourne with lifts between 17 to 45ȼ for the 25 to 30 microns, while there were no quotes for Fremantle, and the 28MPG in Sydney stayed put at 370ȼ/kg. The broader types are still at historically low levels, however. Cardings had some gains too, with the indicator lifting 10ȼ in Sydney, 9ȼ in Fremantle and by 42ȼ in Melbourne.
There were 34,180 bales on offer this week and with a low national pass-in-rate of 5%, 32,482 bales were sold. Average weekly bales sold this season is currently just below last season at 34,475.
This week on Mecardo, Andrew Woods looked at changes in staple length for merino wool sold at auctions over the past 20 years. He also compared average prices for 13 to 24 microns this quarter compared to last.
The week ahead….
Next week there’s 42,433 bales currently scheduled for auction across all three selling centres.
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Data sources: AWEX, 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.
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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.