The wool market presented a softer tone this week with most Micron price guides easing slightly. Demand was weaker with fewer bales sold alongside a higher pass-in rate compared to last week.
>Selective demand by buyers pushed the Eastern Market Indicator (EMI) down 7 cents to 1,131 ¢/kg clean. In US $ terms, the market also fell by 6 ¢/kg clean. The Western wool market tagged the east coast with the Western Market Indicator (WMI) easing 6¢ to 1,267¢/kg.
Wool Growers responded to the easing
market by holding firm which led to an increase of the pass-in rate to 8.0%. This
resulted in 5,600 fewer bales sold this week compared to last.
Finer (<18.0 μm) stylish (MF4) Merino fleece lots with favourable additional measurements and declared Non-Mulesed status
were well supported in Melbourne. However, the bulk of Tuesday’s offering (≥
18.5 μm) trended lower. The sector initially eased on Wednesday, before
positive signs emerged towards day’s end. Finer (≤ 18.5 μm), stylish (MP4)
Merino skirtings lifted 15¢ on Tuesday with no change in other types and
descriptions. The sector was unchanged on Wednesday. The 32 μm MPG gained 10¢
on Tuesday, with prices steady for other types and descriptions on both days. A
small offering of oddments was largely unchanged.
This week on
Mecardo, Andrew Woods looked at the supply of RWS-accredited wool & the prices
achieved (read
more here). Most merino and
crossbred wool prices are struggling along at low levels, with the exception of
the sub-16 micron categories. In the article, Andrew investigates merino price levels, RWS
share of sales and changes in volumes by micron category.
Next week
Next week’s offering is currently rostered at 41,535 bales with all centres selling on Tuesday & Wednesday. This scale of offering will test the market given the subdued demand currently in place.
This week’s wool market performance was a delicate balancing act, teetering between currency-driven gains and international headwinds. The Eastern Market Indicator (EMI) closed at 1,262¢,
Given the massive flooding in Queensland, the natural question is what impact will this have on livestock supply, and consequently prices? This article takes a
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Little movement on the wool front this week
This week on Mecardo, Andrew Woods looked at the supply of RWS-accredited wool & the prices achieved (read more here). Most merino and crossbred wool prices are struggling along at low levels, with the exception of the sub-16 micron categories. In the article, Andrew investigates merino price levels, RWS share of sales and changes in volumes by micron category.
Next week
Next week’s offering is currently rostered at 41,535 bales with all centres selling on Tuesday & Wednesday. This scale of offering will test the market given the subdued demand currently in place.
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Click on graph to expand
Click on graph to expand
Data sources: Nutrien Ag Solutions, 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.
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.