The Australian wool market has closed out the 2024 calendar year on a positive note, recording an overall increase in the final selling series for the year.
The movements in the individual Micron Price Guides (MPGs) in the merino fleece sector ranged between zero and plus 44 cents.
The benchmark AWEX Eastern Market Indicator (EMI) added 9 cents on the first selling day. It then rose by 5 cents on the second, pushing its run of single digit movements to 22 selling days.
The EMI gained 14 cents for the week. This was the largest weekly rise in the EMI since Week 15 (10 October). The EMI opened 2024 at 1,213 cents and closed the year 59 cents lower at 1,154 cents, a reduction of 4.9 per cent (pc).
In US dollar terms, the EMI started the year at 816 US cents, dropping 86 US cents for the year, a fall of 10.5 pc.
Of note this week was a line of wool offered in Fremantle which tested at an exceptional 11.4 microns. This is the finest micron ever recorded in Fremantle, the equal second finest nationally, and the best result since 2014. The only finer micron ever recorded was 11.1 microns in 2012.
The year in review
There were exactly 100 selling days for the year. This was the smallest number of selling days for a calendar year since 2020.
On 44 days the EMI recorded a rise. On four occasions the EMI was unchanged, while the EMI dropped 52 times across the year. The longest upward run was six selling days, the longest run of negative selling days was nine.
There has been a total of 1,726,442 bales offered through auction for 2024. This is the lowest amount again since 2020, when there were 1,463,112 bales offered for the year.
Sales now pause for the annual three-week Christmas recess. Sales will resume on Monday 13 January 2025.
Table showing wool prices for Season 2024/25, Week 25
Graph showing Eastern Market Indicator (EMI) to 20 December 2024
For full details of auction sales, download the reports below.
Disclaimer – important, please read:
The information contained in this article is given for general information purposes only, current at the time of first publication, and does not constitute professional advice. The article has been independently created by a human author using some degree of creativity through consultation with various third-party sources. Third party information has been sourced from means which Elders consider to be reliable. However, Elders has not independently verified the information and cannot guarantee its accuracy. Links or references to third party sources are provided for convenience only and do not constitute endorsement of material by third parties or any associated product or service offering. While Elders has exercised reasonable care, skill and diligence in preparation of this article, many factors including environmental/seasonal factors and market conditions can impact its accuracy and currency. The information should not be relied upon under any circumstances and, to the extent permitted by law, Elders disclaim liability for any loss or damage arising out of any reliance upon the information contained in this article. If you would like to speak to someone for tailored advice specific to your circumstances relating to any of the matters referred to in this article, please contact Elders.
Read previous reports
Wool market update 13 December
Wool market update 6 December
Wool market update 29 November