The Eastern Market Indicator (EMI) was down 12¢ in to 1845¢ in Australian dollar (AUD) terms and down by 13¢ to 1310¢ in United States Dollar (USD) terms. This week the bale offering remained fairly steady, down by only 2.5% to 27,667, while the pass in rate fell to 8.3%.
Local Market Indicators saw Sydney decline by 7¢ to 1924¢ while Melbourne was down by 16¢ to 1792¢ and Fremantle lost 6¢ to 2033¢.
In Sydney, the finer end of the spectrum had a good week with 16.5 MPG up by 40¢ to 2686 and 17.5 MPG gained 18¢ to 2580¢. The good news began to slip with 19.5 MPG, which was down by 13¢ to 2165¢, and 28 MPG, which fell by 18¢ to 820¢. Cardings rose by 21¢ to 1168¢
In Melbourne, gains were seen for fine merino, with 17.5 MPG up by 12¢ to 2557¢ and 19 MPG was 6¢ higher to 2288¢ but this was offset by heavier losses in medium merino with 20 MPG down by 53¢ to 2016¢ and 21 MPG losing 57¢ to 1914¢. Crossbred 28 MPG was down by 34¢ to 827¢ and cardings finished 24¢ higher to 1109¢.
In Fremantle, 18.5 MPG was up by 5¢ to 2399¢ but 20 MPG lost 14¢ to 2050¢ and 21 MPG was down by 16¢ to 1982¢. Cardings gained 49¢ to finish at 1138¢.
This week in Mecardo, Andrew Woods explores price movements for Australian and South African merino fleeces. For Australian wool to get the full price benefit for it being non-mulesed, it continues to need certification to a quality scheme however quality scheme (mainly RWS) accredited premiums have tracked along at attractive levels over the past year (article available here).
Small dip in price on higher offering
Next week
Next week the bale offering is set to increase by 15% to 31,886. Auctions are scheduled for Tuesday and Wednesday in Sydney and Melbourne and on Tuesday only in Fremantle.
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Data sources: MLA, Mecardo
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Have any questions or comments?
Fibre prices
A reader has asked whether synthetic fibre prices have settled down, implying there is an equilibrium price level for these fibres. That implication is not
Price stable as offering declines
A lower bale offering helped the Australian wool market set a very modest overall price rise, with the Eastern Market Indicator (EMI) up by 1¢
Merino supply and price
Supply is the topic of the moment in discussions about the greasy wool market, or more accurately low supply and its impact on price. Supply
Sellers unwilling to part with wool at current market
This week prices fell in the Australian wool market and pass in rates remain high as volumes have been slowly creeping back up to 30,000
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