The Australian wool market has recorded an overall increase in this series, after two successive weeks of falls.
The positive tone that was evident on the final selling day in the previous series, particularly in the west (which sold later in the day), has carried into this week. This positive tone has resulted in widespread spirited competition from buyers, which in turn has resulted in price increases across all merino fleece types and descriptions.
The national quantity reduced slightly from last week. There was 39,972 bales available to the trade.
Sydney held a designated Superfine sale.
On the first day of selling the individual Micron Price Guides (MPGs) rose by between 1 and 25 cents. Only the 17 micron MPG (unchanged) and the 16.5 micron MPG in the south (minus 11) resisting the trend.
The benchmark AWEX Eastern Market Indicator (EMI) added 5 cents for the day. The second selling day was an almost carbon copy of the first. Further rises recorded across all merino types and descriptions.
The MPG movements in the fleece sector across the country, ranged between unchanged and plus 28 cents.
The EMI rose by 6 cents for the day. and closed the week 11 cents higher at 1,195 cents.
Minimal currency movement meant that the EMI also rose in US dollar terms. The EMI finished the series 2 US cents higher, closing at 756 US cents.
The EMI has recorded three consecutive rises in both AUD and USD terms, the last time this occurred was back in October last year.
The skirting market had a volatile week, recording general losses on the first day, only to quickly bounce back, recovering the losses and finishing the week generally unchanged.
The oddment sector had a solid week. The prices on offer were all generally at or above those on offer in the previous series.
Next week the national offering is expected to fall. There are currently 34,697 bales on offer.
Table showing wool prices for Season 2024/25, Week 35
Graph showing Eastern Market Indicator (EMI) to 28 February 2025
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