Market Intelligence
Weekly Wool Market Commentary
Moses & Son is committed to providing our valued customers the most current information and data to empower your decision-making process. Discover our latest Australian wool market weekly update below, along with archived reports for your perusal and analysis.
2025-S17
The AWEX EMI closed on 1427c down 29c at auction sales in Australia this week. From the 40,124 bales estimated to be offered, just 33,727 bales went under the hammer (84% of the early estimate). From the lower offering just 87.2% cleared the trade and after the amazing 15-week continuous weekly rise which started with an EMI of around 1200 and peaked 1565c (+30%).
This week’s result signals the 3rd successive week of price retracement from the EMI’s peak which has fallen 9% from its top. In USD terms the EMI fell 21USc as the AUD gyrated around .65USc. When compared to the same period in the previous season the EMI is 296c (+26.2%) higher in AUD and 172Usc higher (+22.8%).
Merino Fleece
Was another week where all MPG’s closed cheaper than the previous week. Once again it was the 16μ-18.5μ fleece types that fell the most with retracements of 49-95c in the Northern region. The 19μ and coarser MPG’s fell between 7 and 19c. The Local Trading Exporters, Chinese indents opened the account and were joined by the large Chinese Top Makers on Wednesday. The Top 5 Buyers taking over 62% of the offering.
Merino Skirtings
Opened the week down 30c in line with the fleece counterparts. Wednesday saw increased competition on the best style and specified (low VM) skirtings which resulted in rises of 10-15c. The remaining offering were another 10-15 cheaper. Competition involved the same Exporters as the fleece in the mix, however it was in the reverse order. The Chinese Topmaker pushed the Local Trading Exporters to and Chinese Indents with the Top 5 buyers taking over 75% of the Skirting offering.
Merino Cardings
Closed the week cheaper across all selling centres with Sydney -11c, Melbourne -25c and Fremantle -16c. The variance in MC makeup across the regional centres adds complexity to quoting this sector accurately. Keep in mind Merino Cardings have historically proven to be a predictor of market trends (Wools version of the mining OH&S canary in the cage).
Crossbred Fleece
Crossbred Oddments
Crossbreds
Saw the 25-28μ come under pressure on both days whilst the 29-32μ XB Fleece types washed off 10c on Tuesday, then they firmed up on Wednesday.
Next Week
Next week’s offering falls back to 38,737 bales with all centres operating on Tuesday and Wednesday.
Graphs
Market Commentary
At the beginning of this week, it appeared that several of the exporter and broking trade were predicting the market would have arrested the recent price falls of the previous week as a correction. Unfortunately, it appears that low supply is only a small part of the business equation. Whilst there is a whisper for some business being done at the end of this week the price level negotiated has yet to be revealed. With the wool market’s crystal ball being completely “clouded in”, my educated guess is that we may have a couple of weeks at least before we see a reversal.