The wool market was mostly weaker this week with most indicators falling. AWEX again reported low VM types attracted ‘excellent buyer support’ and were the least affected by the falling market.
The EMI has fallen after 5 consecutive weeks of strengthening, falling down 14ȼ/kg to 1420ȼ/kg. The Aussie dollar was 1 cent higher against the USD, lifting to 0.7099 US, resulting in a slight lift in the EMI in US terms to 1008ȼ/kg.
All medium to fine merino microns fell between 1 to 43 cents, except for the 19MPG in Sydney which stayed put.
The Western Market Indicator (WMI) also fell, down 11ȼ to finish the week at 1504ȼ/kg. All medium to fine indicators in the west fell between 11 to 24 cents.
Crossbred wools were also largely weaker falling between 1 to 7 cents except for the 30 MPG in Melbourne which lifted 2 cents. Cardings largely bucked the trend, with the indicators lifting by 9 cents in Melbourne & by 2 cents in Fremantle, although in Sydney the same indicator fell by 7 cents.
There was another solid offering this week, 45,059 bales, with 38,757 sold resulting in a pass-in (PI) rate of 14%.
This week on Mecardo Andrew Woods looked at wool quality schemes from an international perspective concluding that although the amount of wool accredited to these schemes here is growing, we could be supplying as the demand for these types of wool will continue to grow.
Andrew also looked at the price of the 21MPG in relation to cotton, which has been having a stellar run lately. In relation to cotton the 21MPG is currently in the low range, historically, implying that there is little risk of downside to the indicator while the cotton price stays high.
The week ahead….
Next week we have a much smaller offering, with only 37,291 bales currently listed for sale with all centres are selling on Tuesday & Wednesday.
The Australian wool market stabilised this week, with the Eastern Market Indicator (EMI) down just 1 cent to 1,189 c/kg, despite currency swings impacting USD
The Australian wool market softened this week as a firmer Australian dollar and a sharp decline in wool quality weighed on buyer sentiment. The Eastern
The latest AWTA core test volume data shows a continued fall in Australian wool production, which is not surprising given the tough seasonal conditions across
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Market falls after 5 weeks of gains
The EMI has fallen after 5 consecutive weeks of strengthening, falling down 14ȼ/kg to 1420ȼ/kg. The Aussie dollar was 1 cent higher against the USD, lifting to 0.7099 US, resulting in a slight lift in the EMI in US terms to 1008ȼ/kg.
All medium to fine merino microns fell between 1 to 43 cents, except for the 19MPG in Sydney which stayed put.
The Western Market Indicator (WMI) also fell, down 11ȼ to finish the week at 1504ȼ/kg. All medium to fine indicators in the west fell between 11 to 24 cents.
Crossbred wools were also largely weaker falling between 1 to 7 cents except for the 30 MPG in Melbourne which lifted 2 cents. Cardings largely bucked the trend, with the indicators lifting by 9 cents in Melbourne & by 2 cents in Fremantle, although in Sydney the same indicator fell by 7 cents.
There was another solid offering this week, 45,059 bales, with 38,757 sold resulting in a pass-in (PI) rate of 14%.
This week on Mecardo Andrew Woods looked at wool quality schemes from an international perspective concluding that although the amount of wool accredited to these schemes here is growing, we could be supplying as the demand for these types of wool will continue to grow.
Andrew also looked at the price of the 21MPG in relation to cotton, which has been having a stellar run lately. In relation to cotton the 21MPG is currently in the low range, historically, implying that there is little risk of downside to the indicator while the cotton price stays high.
The week ahead….
Next week we have a much smaller offering, with only 37,291 bales currently listed for sale with all centres are selling on Tuesday & Wednesday.
Have any questions or comments?
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Data sources: AWEX, Mecardo
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Volume light, demand tight, and a flat EMI
The Australian wool market stabilised this week, with the Eastern Market Indicator (EMI) down just 1 cent to 1,189 c/kg, despite currency swings impacting USD
Volumes ain’t volumes
Weekly auction volumes of wool offered are often bandied around as a measure of whether supply is set to outstrip or fall short of demand,
Wool dips as quality slips
The Australian wool market softened this week as a firmer Australian dollar and a sharp decline in wool quality weighed on buyer sentiment. The Eastern
What are wool prices doing in response to lower supply?
The latest AWTA core test volume data shows a continued fall in Australian wool production, which is not surprising given the tough seasonal conditions across
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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.