All signals led to a dearer market this week at Australian wool auctions, and on the surface those expectations were largely met, but with some overriding caveats. Some extravagant gains were made on local markets, particularly within the comeback and crossbred sectors (24 to 32 micron) which is a break away from season-long trends. Indicative of this was the 25 micron price guide lifting by an extraordinary 149ac. Within the Merino sector though, a substantially weaker AUD (Australian dollar) masked some weakness of demand for the current deteriorating quality of wool on offer due to adverse seasonal conditions across the nation.
In another historic week, the AWEX (Australian Wool Exchange) EMI (Eastern Market indicator) set new all time records for both the daily high EMI of 1847ac and a week-ending record high of 1846ac per clean kg. This represents a 21ac increase for the week. To put these price returns in perspective, this is 23% or 345ac higher than at the same sale week of last year. Significantly this has occurred when we have had over 50,000 more bales sold through auction than at the same period last year.
2017/18 Week 43 EMI: 1846ac
2016/17 Week 43 EMI: 1501ac
2015/16 Week 43 EMI: 1217ac
2014/15 Week 43 EMI: 1153ac
Click here to access AWI's Wool Weekly Market Report (PDF 371 KB)