Despite many industry observers predicting a dearer market, based on overseas enquiry, the Australian wool market has defied predictions.
It recorded losses across both selling days of the series, thus ending its strong opening to the 2025 calendar year.
The higher prices on offer last week, encouraged some sellers back to the market. This pushed the national offering up to 40,651 bales. This incuded 6.3 per cent (pc) of wool that had been offered in a previous sale.
On the first selling day the benchmark AWEX Eastern Market Indicator (EMI) dropped by 9 cents, ending its run of four selling days of consecutive rises. This was followed by a further 14 cent drop on the second.
The EMI fell by 23 cents for the series, closing at 1,192 cents. This was the highest weekly fall in the EMI since August last year (Week 9). Although the EMI lost ground this series, it is still trading higher for the calendar year.
The EMI opened 2025 at 1,154 cents, meaning it is 38 cents higher for the year, an increase of 3.3pc. Understandably, the softer market was met with seller resistance, pushing the passed in rate up to 14.0pc. This was the highest passed in rate since August 2023 when it was 15.3pc. By comparison during that series the EMI dropped by 36 cents.
The total dollar amount of wool sold so far in this season continues to track well below that of the previous season.
Season to date there has been $1,186 million worth of wool sold at auction, this is $204 million below last season, a drop of 14.7pc. This fall tracks closely with the overall fall in the national offering, which has reduced by 15.8pc.
The weaker market has not been a major deterrent and next week’s national offering is expected to rise. There are currently 44,748 bales rostered in Sydney, Melbourne and Fremantle.
Table showing wool prices for Season 2024/25, Week 33
Graph showing Eastern Market Indicator (EMI) to 14 February 2025
For full details of auction sales, download the reports below.
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Read previous reports
Wool market update 7 February
Wool market update 31 January
Wool market update 24 January