The Australian wool market has recorded rises, albeit small ones, across all three selling days in this series, to record the first overall weekly increase since the 10 October.
The national quantity continued to be relatively small for this time of year. There were 35,505 bales available to the trade, compared to the 42,682 bales on offer at the corresponding sale last season.
With Melbourne having a public holiday on Tuesday, it was just Sydney and Fremantle in operation on the opening day of selling.
Fremantle recorded increases across all published Micron Price Guides (MPGs) of between 9 and 14 cents.
Sydney posted mixed results. The rises, however, were enough for a 3 cent rise in the Northern indicator, which in turn was enough to push the benchmark AWEX Eastern Market Indicator (EMI) up by one cent. This one cent rise halted the downward run of the EMI which had fallen for the previous six selling days.
The second day of selling all three centres were in operation, and in general terms the market continued to rise.
The merino fleece MPGs price movements across the country ranged between minus 2 and plus 21 cents, only the 17.5 micron and finer MPGs in the North posting losses. The EMI added 5 cents for the day.
The final day was a standalone Melbourne sale. Again, small MPG movements were recorded. The EMI added another cent to close the week.
The market fluctuations continue to be small. The one cent rise in the EMI marked the tenth consecutive selling day where the EMI movement has been 5 cents or less (both positive and negative movements). The EMI closed the week 7 cents higher at 1,132 cents.
Due to a strengthening of the Australian dollar (AUD), when viewed in US dollar terms the increase in the market and the US EMI was more significant. The EMI added 13 US cents for the series.
Table showing wool prices for Season 2024/25, Week 19
Graph showing Eastern Market Indicator (EMI)
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