More green shoots for wool

Supply remained manageable at 29,621 offered and 28,522 bales sold, with only a 3.7% pass-in rate, a notable shift from the 20% + pass-ins recorded just a couple of weeks ago

Fine and medium Merino fleece led the rise across all selling centres this week. In Sydney, the 17.5 MPG lifted 58c to 2008c/kg, while in Melbourne, the 18 MPG surged 77c to 1940c/kg and the 18.5 MPG gained 65c to 1861c/kg. In Fremantle, finer types also strengthened, with the 17.5 MPG adding 24c to 1962/kg. Mid-micron categories moved in unison, with the 19 MPG in Melbourne up 55c to 1788c/kg, while the 21 MPG in Melbourne rose 74c to 1733c/kg,

Crossbreds were steady to marginally firmer. In Melbourne, the 25 MPG rose 3c to 855c/kg, while the 28 MPG added 5c to 590c/kg, suggesting gradual stabilisation in this segment. Cardings softened slightly, with the Merino Carding Indicator at 805c/kg in Sydney and 732c/kg in Melbourne, continuing the trend of more cautious demand for lower-value categories.

This week in Mecardo, Andrew Woods reviewed the staple strength profile of the eastern-state clip, highlighting a clear weakening trend (see article here). He notes that early-November sales are showing staple strength levels not seen since around 2010, and he noted that discounts for low staple strength could widen toward 10 to 15% as the season progresses. He showed how that aligns with the strong premiums paid this week for sound, high-strength Merino fleece, which remain firmly supported by current supply-chain signals.