The Eastern Market Indicator (EMI) recorded a 15¢ rise on Tuesday and added a further 8¢ lift on the final day to close at 1215 cents. This places the EMI at its highest closing level since May 2023.
In US$ terms, an 18¢ lift for the week was reported, despite only a minor move in the Au/US$ exchange rate.
All Merino MPGs showed positive movement, with rises of 12 to 32¢ in the 18 MPG and finer, while the 19 to 21 MPG posted 40 to 56¢ lifts.
Fremantle followed suit with the Western Market Indicator (WMI) lifting 15¢, with individual Merino MPG posting 16 to 21¢ lifts.
Crossbreds were not to be outdone, performing strongly with price rises across the MPG range on both sale days. The 26 MPG ended up 16¢ to 605¢, while the 30 MPG lifted a more modest 5¢ to 380¢. The only exception to an overall positive week was the 28 MPG in Sydney which corrected back to Melbourne comparative levels with a 15 cent retracement.
The regional carding indicators rose by 3 and 8¢ in Fremantle and Melbourne respectively, while Sydney was quoted as “unchanged”.
The offering nationally of 37,650 bales offered was met with a 5.6% pass-in rate, resulting in 35,547 bales sold.
This was 9,700 bales more than the last sale and 10,000 bales more than the weekly average for the season to date. Year-on-year the total offering to date is back by 180,392 bales or -16.3%.
This week on Mecardo, Andrew Woods looks at the recent AWTA core test data. The eastern wool clip is down 7.6% for the season to date, which is not unusual given seasonal conditions during the past year.
The Western Australian clip is down 18.4% for the season to date with the biggest impact on the 19-to-22-micron categories. Lower fleece weights can account for about one-third of this fall with sheep numbers having to account for the rest.
The AWPFC forecast of a 12% fall in wool volumes nationally is unfortunately looking to be a reasonable estimate, depending on how much the western flock shrinks.
The market continues positive start to 2025
Next week
Next week’s sales will occur over two days, with 41,243 bales currently rostered for sale in all centers over two days.
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Data sources:MLA, Mecardo, BOM
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