Wool Report

The Australian wool market has continued to track upward in Week 33. Quantities were higher than first rostered, resulting in a slightly increased offering on the previous sale, nationally 40,165 bales were available to the trade. Compared to the corresponding sale of the previous season, there has been 179,089 fewer bales offered, a reduction of 14.8%. In the Northern region, Thursday’s sale was the smallest merino fleece offering in 12 months. The weekly total was the smallest sale in almost 5 years. As in recent weeks, the rise of the market was gradual but sustained. Prices continually increased as the series progressed. By the end of the sale, the prices being achieved were generally 10 to 20 above those seen in the previous week.

The AWEX Eastern market indicator (EMI) added 24 cents to close the week at 1,968 cents. The EMI has now increased for seven consecutive sales, adding 119 cents since Week 24. The crossbreds attracted extremely strong support, helping to push some prices to record levels and contributing to the healthy rise of the EMI. The Micron Price Guides (MPG) in Sydney and Melbourne centres, posted their highest recorded levels of 1,083 and 1,103 cents respectively. In the Southern region, the MPG for 30 micron is also now at a record. It is the first time since the AWC/AWEX series commenced in 1979, that it has been over 900 cents (previous high was in 2015, just shy of 900). The national offering increases again for the following sale, currently there is 42,7469 bales rostered for sale in Sydney, Melbourne and Fremantle.