Wool Market Report

Australian Wool Network

The Australian wool market has recorded another overall increase this series, again driven by strong demand for good/best style,

low vegetable matter (less than 1.5 per cent vm) merino fleece types.

There were 40,153 bales offered nationally, 8,599 fewer bales than last week.

Auction numbers continue to climb well above the previous season.

There have been 1,556,460 bales offered so far this

year, 151,128 more than the 2020/21 season, an increase of 10.8 per cent.

Despite reporting ongoing concerns about shipment difficulties,

buyer sentiment was very positive from the outset, continuing unabated until a final lot of the series.

As mentioned earlier it was

strong demand for good style, low vm merino fleece types that were the driving factor in the increases in the individual Micron Price

Guides (MPGs).

Across the country, the merino fleece MPGs rose by between 7 and 57 cents.

These increases combined with rises in the skirting, crossbred and oddment sectors pushed the AWEX Eastern Market Indicator (EMI) up by 24 cents for the series, the EMI closed the week at 1,401 cents.

This 24 cent lift was the largest weekly rise in the EMI since the beginning of February when the EMI gained 42 cents for the week.

The EMI is 82 cents higher than the same time last year, this represents an increase of 6.2 per cent over this period.

As the EMI has consistently tracked above the levels of last year, combined with the increased auction throughput, the total dollar amount sold at auction for this season is well above the corresponding sale of last year.

Year to date there has been $2,1723.23 million worth of wool sold at auction, compared to $1,765.90 million in the 2020/21 season, an increase of $406.33

million.

Next week the national offering increases, 42,779 bales are currently expected to be offered in Sydney, Melbourne and Fremantle.