Market Intelligence
Weekly Wool Market Commentary
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2024-S47
Week S47: 21/05/2025: The AWEX EMI closed on 1203c up 14c at auction sales in Australia this week. 27,169 bales when under the hammer, the smallest national three centre weekly offering for five years. 91.8% of the offering cleared to a more vigorous exporter competition emerging from the prominent Australian based Trading exporters who returned to the top of the buyer list, keen to close out their outstanding contracts and meet shipping obligations. The large Chinese Topmakers did not back off their purchasing, therefore the competitive tension in the Merino Fleece sector resembled a positive market trend of old. The AUD USD exchange rate continued to range trade between 64 USc and 64.54 USc during the auction series with the EMI in USD terms closing on 776USc a 5c rise for the week.
Merino Fleece
Competition on the best style types finer than 19.0µ pushed the MPG’s up 29-52c whilst the average style and specified sale lots added 15-20c to last week’s price levels. The Chinese Topmakers were most competitive on the best style and specified sale lots however the traders were pushing hard to secure the in-specification sale lots there was evidence of isolated sale lots making up to 80c over last week’s quotes in the superfine selection. 10.5% of sale lots were being reoffered and this week, with most of the reoffers successfully transacted. Further testament to this week’s market’s interests were the number of sale lots transacted post sale on the electronic offer-board.
Merino Skirtings
Most Merino Skirtings were in the seller’s favour, noting that a significant percentage of this market category is primarily destined for the knitwear segment and has been much easier to trade week on week. The best prepared and specified FNF skirtings sale lots continued to trade at noticeable premiums this week.
Merino Cardings
Remained unchanged in Sydney and Fremantle, however, Melbourne experienced a 28c fall in their MC for the week with a 22c fall on Tuesday and a 6c fall on Wednesday.
Crossbred Fleece
Crossbred Oddments
Crossbreds
traded in sellers’ favour across the 25-30 MPGs with price rises of 5c-20 c measured where quotable. Competition remains widespread.
Next Week
Next week’s offering is just 28,346 bales with three centres offering on Tuesday and Fremantle with only 4310 bales this week will be sitting out of the sale rooms on Wednesday. The early market intelligence is that next week will see a continuation of this week’s trends on the better style fine wools and unfortunately “steady as she goes” for the rest. ~ Marty Moses.
Graphs
Market Commentary
I will start with the positive news: - The RBA dropped the cash rate by ¼% on Tuesday signalling the commencement of easing of the financial pressure on those Australians under debt stress. With two more rate cuts forecast before Xmas 25 this downward movement will have significant positive economic effect as time passes. This week IWTO conference came and went, with reports of a “vanilla” conference that may not appease or inspire the ailing pipeline any time soon. On a more positive front this week’s inland rain event across much of the agricultural regions that had missed the early seasons rain, was extremely uplifting for the farming community. Conversely our thoughts are with those residence on the NSW Mid North Coast who are undergoing the devastation of flooding.