The Australian wool market has continued to strengthen, recording another overall rise, making this the fourth selling series in a row where the market has risen.
The national quantity rose to 40,144 bales.
On the first day of selling, the benchmark AWEX Eastern Market Indicator (EMI) added 4 cents. This stretched the upward run of the EMI to nine consecutive selling days.
This equalled the run of nine last seen in November 2016. On the second day the market performed with mixed results. There were enough positives within the market however, for the EMI to record a tenth consecutive rise, this time by another 4 cents.
The 10 day run of daily rises equalled the run of 10 posted back in May 2016.
A pleasing aspect of the current market spike, has been that it is largely demand driven, as opposed to the common trend over recent months where market movements have been heavily influenced by currency.
The EMI also recorded rises across both selling days when viewed in USD terms, adding a total of 10 US cents for the series. When viewed across the last ten selling days, where the EMI has risen in AUD terms, the EMI has only fallen once in USD (4 March). Even then, it was by the barest of margins (one cent).
Across the last 10 selling days the EMI has risen by 70 cents, an increase of 5.9 per cent (pc). When viewed in USD terms the increase is the same, the EMI has added 47 US cents across these selling days, again a rise of 5.9pc.
Unfortunately, the market closed with a negative tone.
The Western region selling last recorded losses in all published Micron Price Guides (MPGs), only the 21 micron MPG bucking this trend.
Next week the national offering is of a similar size. There is currently 40,831 bales on offer nationally.
Table showing wool prices for Season 2024/25, Week 38
Graph showing Eastern Market Indicator (EMI) to 21 March 2025
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