As the 2023/24 season approaches the finish line, the recent momentum of pricing has fallen short as the majority of fine and medium micron price categories finished the week lower despite easing supply.
The Eastern Market Indicator (EMI) lost 10¢ this week, to
1160¢/kg in a quiet sales week resulting in the 2nd lowest number of
weekly bales sold this season. The EMI expressed in US$ lost 5¢ to 773¢ and
will be one to watch next season as the RBA is put in a difficult decision
regarding further rate rises to fight inflation.
In Sydney, 20MPG was the sole improver of the week, lifting
3¢ to 1374¢/kg.Losses at the
fine end ranged from 13¢ to 38¢, with 17MPG losing 38¢ to 1712¢/kg. Further South, all merino categories in
Melbourne lost ground for the week but saw steeper losses at the medium end of
the offering. 21MPG lowered 30¢ to 1322¢/kg.
Crossbred performance varied greatly depending on where you
were selling this week. Sydney 26MPG lost 23¢ to 552¢/kg but gained 17¢ to
585¢/kg in Melbourne.Despite the smaller offering, the pass-in rate
jumped to 7.9% nationally.
Low quantities saw the Fremantle market not operate this
week, however, with the discourse and uncertainty around what’s next for the
West Australian Sheep flock, Andrew Woods investigated how the impacts of
change will be quite varied (read here). The
Western Australian flock is mainly a merino flock, and its wool production is
concentrated in the 18 to 22-micron categories making up 28% of 19-micron
production in recent seasons.
The week ahead….
Next week’s sale will be the last of the 2023/24 season and 40K bales are forecast across all three centres.
Typically buyers are not scared off from big volumes before the end of the Financial year so it will be interesting to see whether this week’s weaker market was in anticipation of more to choose from next week.
The market remains sensitive to volume changes currently, with a mixed bag for indicators this week and slight improvement overall as volumes eased. The Eastern
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Small offering, small interest
The Eastern Market Indicator (EMI) lost 10¢ this week, to 1160¢/kg in a quiet sales week resulting in the 2nd lowest number of weekly bales sold this season. The EMI expressed in US$ lost 5¢ to 773¢ and will be one to watch next season as the RBA is put in a difficult decision regarding further rate rises to fight inflation.
In Sydney, 20MPG was the sole improver of the week, lifting 3¢ to 1374¢/kg. Losses at the fine end ranged from 13¢ to 38¢, with 17MPG losing 38¢ to 1712¢/kg. Further South, all merino categories in Melbourne lost ground for the week but saw steeper losses at the medium end of the offering. 21MPG lowered 30¢ to 1322¢/kg.
Crossbred performance varied greatly depending on where you were selling this week. Sydney 26MPG lost 23¢ to 552¢/kg but gained 17¢ to 585¢/kg in Melbourne. Despite the smaller offering, the pass-in rate jumped to 7.9% nationally.
Low quantities saw the Fremantle market not operate this week, however, with the discourse and uncertainty around what’s next for the West Australian Sheep flock, Andrew Woods investigated how the impacts of change will be quite varied (read here). The Western Australian flock is mainly a merino flock, and its wool production is concentrated in the 18 to 22-micron categories making up 28% of 19-micron production in recent seasons.
The week ahead….
Next week’s sale will be the last of the 2023/24 season and 40K bales are forecast across all three centres.
Typically buyers are not scared off from big volumes before the end of the Financial year so it will be interesting to see whether this week’s weaker market was in anticipation of more to choose from next week.
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Click on graph to expand
Click on graph to expand
Data sources: AWEX, AWI, Mecardo
Categories
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Mixed results as volumes ease
The market remains sensitive to volume changes currently, with a mixed bag for indicators this week and slight improvement overall as volumes eased. The Eastern
Crossbred supply and price in 2025-26
The 2025-26 season was a good one generally for wool with prices up by 30-40% (season averages) for the AWEX MPGs across the board in
EMI down on another strong offering
Prices declined as the market experienced a rocky start to the 2026/27 wool marketing year. Whether the declines were purely supply driven is yet to
2025-26 merino prices and volumes
The 2025-26 season has been one of those seasons where wool prices staged a strong rising price cycle, against a backdrop of a falling merino
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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.
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.