The AWEX Eastern Market Indicator (EMI) dropped by 3¢ for the series, closing at 1,176¢/kg. With significant movement in exchange rates over the break, the EMI when expressed in US¢ dropped by 22 US¢, a 2.8% reduction. The AWEX Western Market Indicator (WMI) lost 7¢ to finish at 1332¢/kg.
AWEX report that the market movements were varied across different sectors, different types and different microns. In the merino fleece types the individual Micron Price Guides (MPGs) ranged between plus 42¢ (17 micron in the North) through to minus 45¢ (19 micron in the West).
The crossbred market was mainly positive. The 37¢ (6.5%) increase in the Southern 26 micron MPG was a market highlight, only the 32 micron 10¢ loss in the same region preventing an across-the-board crossbred increase.
The carding market also recorded an overall gain, the three Merino Carding indicators (MC) rose by an average of 10.3¢ with Fremantle the stand-out with a 24¢ lift.
The weeks offering saw 49,029 bales available to the trade. This was 6,334 less than the 55,363 on offer in Week 6 last year. However, this week saw about 13k bales more on offer compared to the final sale before the break. Pass-in rates were up slightly to 9.0%. This resulted in 44,606 sold nationally, 11,000 more than the last sale this week and roughly 8,000 more than last season’s weekly average.
This week on Mecardo, Andrew Woods takes a look at Merino wool quality outlook, specifically fibre diameter and VM. (read here). The expected seasonal impact will see a move finer in the Merino fibre diameter. This means less broad Merino, more fine Merino and a lower clean fleece weight overall. VM levels remain at very high levels for adult merino fleece, although the seasonal pattern should start to alleviate this issue by September.
Quiet return for wool sales
The AWEX Eastern Market Indicator (EMI) dropped by 3¢ for the series, closing at 1,176¢/kg. With significant movement in exchange rates over the break, the EMI when expressed in US¢ dropped by 22 US¢, a 2.8% reduction. The AWEX Western Market Indicator (WMI) lost 7¢ to finish at 1332¢/kg.
AWEX report that the market movements were varied across different sectors, different types and different microns. In the merino fleece types the individual Micron Price Guides (MPGs) ranged between plus 42¢ (17 micron in the North) through to minus 45¢ (19 micron in the West).
The crossbred market was mainly positive. The 37¢ (6.5%) increase in the Southern 26 micron MPG was a market highlight, only the 32 micron 10¢ loss in the same region preventing an across-the-board crossbred increase.
The carding market also recorded an overall gain, the three Merino Carding indicators (MC) rose by an average of 10.3¢ with Fremantle the stand-out with a 24¢ lift.
The weeks offering saw 49,029 bales available to the trade. This was 6,334 less than the 55,363 on offer in Week 6 last year. However, this week saw about 13k bales more on offer compared to the final sale before the break. Pass-in rates were up slightly to 9.0%. This resulted in 44,606 sold nationally, 11,000 more than the last sale this week and roughly 8,000 more than last season’s weekly average.
This week on Mecardo, Andrew Woods takes a look at Merino wool quality outlook, specifically fibre diameter and VM. (read here). The expected seasonal impact will see a move finer in the Merino fibre diameter. This means less broad Merino, more fine Merino and a lower clean fleece weight overall. VM levels remain at very high levels for adult merino fleece, although the seasonal pattern should start to alleviate this issue by September.
Next week
Next week is another reasonably large offering as wool accumulated during the break makes its way to auction. There are expected to be 46,874 bales on offer next week across Sydney, Melbourne and Fremantle.
Have any questions or comments?
Click on graph to expand
Click on graph to expand
Click on graph to expand
Data sources: AWEX, AWI, Mecardo
Categories
Have any questions or comments?
Australian combing and carding volumes
The makeup or quality of the Australian wool clip varies through the season, and between seasons. The supply chain at times can turn up at
Demand passes the volume test
It has been a fortunate fortnight for the Merino wool industry as market indicators and pricing continue to improve. Demand has been resilient in the
Chinese demand outweighs appreciating dollar
In the same week that US President Joe Biden and Chinese President Xi Jinping met in San Francisco at the APEC summit, US and Chinese
Seasonality of Crossbred/Merino wool supply
Discussions about changes in the Australian sheep flock and wool clip tend to be focussed on the total or overall clip/flock. However, the flock is
Want market insights delivered straight to your inbox?
Sign up to the mailing list to get regular updates to new analysis and market outlooks
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.
Research: Analysis of the Australian sheep flock
In this report for LiveCorp and MLA, we analysed the historical trends in the demographics of the Australian sheep flock, examining domestic factors that influence farm-level enterprise decision making.
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.