The wool market had another wild week, with the EMI lifting 56¢ to close at 1514¢/kg clean, taking the 2-week rise to 95¢. Amid the volatility, the EMI is now 33.2% higher than the same week last year. The national offering totalled 31,796 bales, with a 3.6% pass-in rate and 30,663 bales sold, prompting strong competition for available wool ahead of the Christmas recess.
Fine and medium Merino fleece were stronger across the eastern centres, with both Sydney and Melbourne posting clear across-the-board gains. In Sydney, the 17.5 MPG rose 100¢ to 2108¢/kg clean and the 18 MPG gained 111¢ to 2028¢/kg, while the 18.5 and 19 micron categories added around 100¢ to finish at 1959¢ and 1885¢/kg. Melbourne followed a similar pattern, with the 17 MPG up 57¢ to 2092¢/kg, the 18 MPG lifting 55¢ to 1995¢/kg and the 18.5 MPG 68¢ higher at 1929¢/kg.
Fremantle also finished higher, with meaningful gains across most categories. The 17 MPG lifted 53¢ to 2048¢/kg and the 18 MPG firmed 8¢ to 1905¢/kg, while the medium Merino types were clearly the strongest, with the 19 and 19.5 MPGs rising 56¢ and 86¢ to close at 1819¢ and 1798¢/kg.
Crossbreds were steadier, though most centres still recorded slight improvements. In Melbourne, the 26 MPG rose 10¢ to 778¢/kg, the 28 MPG added 17¢ to 677¢/kg, and the 30 MPG firmed 2¢ to 592¢/kg, while Fremantle’s broader crossbred categories held close to unchanged. Cardings were steady across the board, with the Merino Carding Indicator closing at 805¢ in Sydney, 735¢ in Melbourne and 749¢ in Fremantle.
The Australian dollar slipped to around 0.64 on Thursday, easing roughly 1.4% over the week and improving the relative value of Australian wool for overseas buyers. In USD terms, the EMI closed at 983 US¢, a gain of 32¢
This week in Mecardo, Andrew Woods looked at high staple strength premiums and how they are influencing price behaviour in the current market (see article here). He analysed how seasonal average staple strength has fallen by about 2.1 N/ktx compared with last year, and how the supply of wool testing between 36 and 50 N/ktx has declined by roughly 20%. He found that high-strength wool, which typically accounts for 30 to 45% of the clip, is becoming harder to source.
The week ahead….
Next week, the national offering increases to 40,408 bales across all three selling centres on Tuesday and Wednesday. The larger volume will test how much of this week’s strength carries into the final selling stages before the Christmas recess.
The Australian wool market recovered from the losses recorded in the previous series, with prices lifting across both selling days. The Eastern Market Indicator rose
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Merino momentum marches on
Fine and medium Merino fleece were stronger across the eastern centres, with both Sydney and Melbourne posting clear across-the-board gains. In Sydney, the 17.5 MPG rose 100¢ to 2108¢/kg clean and the 18 MPG gained 111¢ to 2028¢/kg, while the 18.5 and 19 micron categories added around 100¢ to finish at 1959¢ and 1885¢/kg. Melbourne followed a similar pattern, with the 17 MPG up 57¢ to 2092¢/kg, the 18 MPG lifting 55¢ to 1995¢/kg and the 18.5 MPG 68¢ higher at 1929¢/kg.
Fremantle also finished higher, with meaningful gains across most categories. The 17 MPG lifted 53¢ to 2048¢/kg and the 18 MPG firmed 8¢ to 1905¢/kg, while the medium Merino types were clearly the strongest, with the 19 and 19.5 MPGs rising 56¢ and 86¢ to close at 1819¢ and 1798¢/kg.
Crossbreds were steadier, though most centres still recorded slight improvements. In Melbourne, the 26 MPG rose 10¢ to 778¢/kg, the 28 MPG added 17¢ to 677¢/kg, and the 30 MPG firmed 2¢ to 592¢/kg, while Fremantle’s broader crossbred categories held close to unchanged. Cardings were steady across the board, with the Merino Carding Indicator closing at 805¢ in Sydney, 735¢ in Melbourne and 749¢ in Fremantle.
The Australian dollar slipped to around 0.64 on Thursday, easing roughly 1.4% over the week and improving the relative value of Australian wool for overseas buyers. In USD terms, the EMI closed at 983 US¢, a gain of 32¢
This week in Mecardo, Andrew Woods looked at high staple strength premiums and how they are influencing price behaviour in the current market (see article here). He analysed how seasonal average staple strength has fallen by about 2.1 N/ktx compared with last year, and how the supply of wool testing between 36 and 50 N/ktx has declined by roughly 20%. He found that high-strength wool, which typically accounts for 30 to 45% of the clip, is becoming harder to source.
The week ahead….
Next week, the national offering increases to 40,408 bales across all three selling centres on Tuesday and Wednesday. The larger volume will test how much of this week’s strength carries into the final selling stages before the Christmas recess.
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Data sources: AWEX, AWI, Mecardo
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Independent analysis and outlook for wool, livestock and grain markets delivered to you as it’s published
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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.
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.