Week S02: 9/07/2025: The AWEX EMI closes on 1212c up 4c at auction sales in Australia this week. 29,275 bales were offered with a 92% clearance rate, which was consistent with the recent sale clearances. The favourable currency exchange saw the AUD fall to 65.18c US over the selling days which worked in assisting buyers pay 3.3% more in AUD terms. When you analyse the conversion, the EMI fell 5c in US Dollar terms. Overall, the main competition came from Australia’s largest trading exporter which dominated the Merino and Crossbred combing categories. Reports of some new business written this week, allowing the Trading Exporters to operate with more confidence in the Auction. This gave the indent operators and Chinese processors solid competition and hence the sellers generally accepted the new price levels.