The Australian wool market has performed strongly in this series, recording price increases across all sectors.
The national offering reduced by 7,194 bales. There was 32,598 bales available nationally.
From the opening lots in the eastern centres on the first day of selling, there was strong buyer interest across all wool types and descriptions, resulting in immediate price increases.
The market then slowly but consistently rose all the way to the final hammer in the western region. By the end of the day the individual Micron Price Guides (MPGs) for merino fleece had risen by between 17 and 53 cents across the three selling centres.
The crossbred, skirting and oddment sectors all recorded small increases.
The benchmark AWEX Eastern Market Indicator (EMI) rose by 22 cents, pushing back through the 1,200 cent barrier, closing the day at 1,217 cents. This was the highest the EMI has been in the 2024/24 season and its highest point since January 2024 when the EMI hit 1,220 cents.
The price rises were heavily influenced by currency. So much so, that when viewed in US dollar terms the market dipped slightly. The EMI lost one US cent for the day, finishing at 755 US cents. This ended the run of EMI rises in both currencies, however it extended the run in AUD terms to four consecutive selling days of rises.
The second day the rises continued but at a much more subdued rate.
The merino fleece MPG movements ranged between unchanged and plus 24 cents. The other three sectors again posted small gains.
The EMI added a further 8 cents, closing the week at 1,225 cents. The EMI is now sitting at its highest point since May 2023.
Next week the national offering is expected to rise, bolstered in part by the higher prices on offer in this series encouraging some sellers back to the market.
There are currently 37,942 bales on offer nationally.
Table showing wool prices for Season 2024/25, Week 36
Graph showing Eastern Market Indicator (EMI) to 7 March 2025
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Read previous reports
Wool market update 28 February
Wool market update 21 February