The momentum of demand for Australian wool extended further into this week across all wool auction markets. Gains were spectacular and of great magnitude, with the superfine Merino fleece and cardings sector the standout performing types. Perhaps most welcome though was the recovery in price of all crossbred wools on offer, ending their 3 week decline. The spirited bidding evidenced in all sale rooms saw records tumble throughout the week, and a record AWEX EMI (Australian Wool Exchange - Eastern Market Indicator) was set as the EMI soared 45ac/ clean kg to close at an all-time high of 1623ac kg.
To put the EMI figures in perspective, the AUD level is a staggering 320ac or nearly 25% higher than at the same time last season. Similarly this week’s 35usc/clean kg rise in the USD EMI to a closing level of 1252usc/clean kg sees that indicator also 25% higher or 255usc above last season. Since AWEX assumed the market reporting duties in the mid 1990’s, only once before has the AUD EMI sat over 1600ac, and that was in mid-August earlier in this season.
Click here to access AWI's Wool Weekly Market Report (PDF 969 KB)