The wool market softened this week overall with AWEX reporting the skirting market was the strongest performing sector for the week, especially those with less than 5% VM levels.
The Eastern Market Indicator (EMI) fell again this week, slipping 14ȼ on last week to close at 1,407ȼ. The Australian dollar continued to strengthen, improving by 0.11ȼ with the AUD quoted at US$0.7293. This resulted in the EMI in US dollar terms moving up by another 5 cents to settle at 1026ȼ.
Over in the west, the Western Market Indicator (WMI) also fell by a similar amount, down 15ȼ to finish the week at 1444ȼ. The 18 MPG in Fremantle lifted by 14ȼ but all other indicators 21 MPG and finer fell between 18 & 32ȼ. Fremantle sold 8,430 bales while passing in 15.3% of the offering.
In Melbourne all bar one of the micron categories fell for the finer to medium types, ranging from 3ȼ for the 20MPG to a 50ȼ fall for the 17MPG. The 19.5MPG was the only micron indicator that lifted, albeit only by 1 cent.
In Sydney, the 17.5MPG to 21MPG all fell between 6 to 25 cents although the finer types there, 16.5 & 17 MPG were the strongest performers for the east coast, lifting 2 & 11 cents respectively.
Crossbred wools all fell between 1 & 12 cents, bar the 28 MPG in Sydney which lifted by 1 cent. Cardings in Sydney & Melbourne were 23 & 14ȼ weaker whilst in Fremantle cardings lifted by 5 cents.
The national offering rose by just over 1,000 bales to 50,120 bales offered. The national pass-in rate was 12.2% which resulted in 44,028 bales sold, about the same as the week prior.
Our thoughts are with the communities affected by the extreme weather events in northern NSW & south east QLD. The Australian Wool Innovation has some good resources & links for those affected by the flooding in NSW & for those in QLD the Department of Agriculture & Fisheries has information on financial assistance.
The week ahead….
Another large offering next week of 52,1462 bales listed with all centres selling on Wednesday & Thursday, with no sales scheduled for Tuesday.
Wool quality varies in response to changing seasonal conditions which is one of the challenges wool processors have to cope with. Quality usually has a
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Market softens overall
The Eastern Market Indicator (EMI) fell again this week, slipping 14ȼ on last week to close at 1,407ȼ. The Australian dollar continued to strengthen, improving by 0.11ȼ with the AUD quoted at US$0.7293. This resulted in the EMI in US dollar terms moving up by another 5 cents to settle at 1026ȼ.
Over in the west, the Western Market Indicator (WMI) also fell by a similar amount, down 15ȼ to finish the week at 1444ȼ. The 18 MPG in Fremantle lifted by 14ȼ but all other indicators 21 MPG and finer fell between 18 & 32ȼ. Fremantle sold 8,430 bales while passing in 15.3% of the offering.
In Melbourne all bar one of the micron categories fell for the finer to medium types, ranging from 3ȼ for the 20MPG to a 50ȼ fall for the 17MPG. The 19.5MPG was the only micron indicator that lifted, albeit only by 1 cent.
In Sydney, the 17.5MPG to 21MPG all fell between 6 to 25 cents although the finer types there, 16.5 & 17 MPG were the strongest performers for the east coast, lifting 2 & 11 cents respectively.
Crossbred wools all fell between 1 & 12 cents, bar the 28 MPG in Sydney which lifted by 1 cent. Cardings in Sydney & Melbourne were 23 & 14ȼ weaker whilst in Fremantle cardings lifted by 5 cents.
The national offering rose by just over 1,000 bales to 50,120 bales offered. The national pass-in rate was 12.2% which resulted in 44,028 bales sold, about the same as the week prior.
Our thoughts are with the communities affected by the extreme weather events in northern NSW & south east QLD. The Australian Wool Innovation has some good resources & links for those affected by the flooding in NSW & for those in QLD the Department of Agriculture & Fisheries has information on financial assistance.
The week ahead….
Another large offering next week of 52,1462 bales listed with all centres selling on Wednesday & Thursday, with no sales scheduled for Tuesday.
Have any questions or comments?
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Click on graph to expand
Click on graph to expand
Data sources:
AWEX, AWI, Mecardo
Categories
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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.