The Australian wool market has recorded another overall fall in this series, adding to the large losses experienced during last week’s sales.
The bulk of the reductions were felt on the first day.
The movements in the merino fleece Micron Price Guides (MPGs) ranged between plus 11 cents (18 micron in the west) to minus 31 cents (17.5 micron in the south).
The benchmark AWEX Eastern Market Indicator (EMI) dropped 12 cents for the day. This was the third successive daily double digit fall in the EMI, losing 35 cents across these three sales. The last time this occurred was back in June 2023, when the EMI had five successive double digit falls.
In a positive sign, Fremantle selling last in the day, posted a 3 cent rise in the Western Indicator, driven by increases in the finer microns. This positive tone carried into the second selling day, resulting in price increases across all regional indicators.
The EMI rose by 4 cents for the day. The EMI finished the series 8 cents lower, closing at 1,184 cents.
A recent trend has seen a reduction in the price differentials between microns. This has been a result of larger price increases in the medium/broad microns in positive series compared to the finer microns, combined with smaller losses in the same microns when the market has retracted.
This is best highlighted by comparing the difference between the 18.5 and 20.0 MPGs in the south.
These two MPGs currently sit at 1,484 and 1,428 respectively, a difference of just 56 cents. At the start of the calendar year the MPGs were 1,529 and 1,426, a difference of 103 cents.
At the start of the 2024/24 season (10 July 2024, 2024) the MPGs were 1,502 and 1,325, a difference of 177 cents.
Next week there are currently 41,029 bales rostered nationally, with Sydney a designated Superfine sale.
Table showing wool prices for Season 2024/25, Week 34
Graph showing Eastern Market Indicator (EMI) to 21 February 2025
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