Wool finds relief after a long month

A national offering of 30,137 bales went under the hammer, down 3,400 on last week, leading to a total of 28,312 bales sold. The national pass-in rate eased to 6.1%, returning to single digits for the first time in a month.

On the east coast, Sydney and Melbourne both recorded mostly positive results, supported by steady buyer demand for high-quality Merino types. In Sydney, the 18MPG lifted 37¢ to 1887¢, the 19MPG rose 19¢ to 1732¢, and the 19.5MPG gained 26¢ to 1696¢. In Melbourne, the 18MPG fell 3¢ to 1863¢, while the 18.5MPG finished at 1796¢, the 19MPG rose 17¢ to 1733¢, and the 19.5MPG rose 8¢ to 1680¢. Crossbreds were mixed in the south, with the 28MPG up 2¢ to 655¢ and the 30MPG up 5¢ to 567¢, while oddments remained subdued as low-VM crutchings firmed slightly but locks continued to soften.

In the west, Fremantle recorded modest gains amid a smaller selection, with the 18MPG up 12¢ to 1867¢ and the 19MPG up 10¢ to 1734¢, while broader microns also improved slightly. The Western Merino Carding Indicator edged 2¢ lower to 751¢.

This week in Mecardo, Andrew Woods analysed the Australian wool supply (see article here). He found that AWTA core test volumes were 18% lower year-on-year for the three months to September. He noted that October showed a rebound, rising 5.5% on the same month in 2024 as higher prices encouraged stored wool to re-enter the market. Interestingly, he observed that the western clip has broadened under improved seasonal conditions, while the eastern clip remains finer.