Wool auction results across Australia went largely to pre sale expectations this week. Unfortunately it was to the negative in the leading market sector of the Merino fleece, but all other types and descriptions on offer managed to hold their levels. The AWEX EMI (eastern market indicator) decreased by 26ac/clean kg or 1.7% for the week to bring the closing level back to 1507ac/clean kg. When measured in USD, the EMI lost just 4usc to close at 1155usc / clean kg, as the AUD strengthened against the USD to minimize the loss in USD terms.
The past week has seen the final sale of the 2016/17 season being held and 1,709,657 bales of Australian stored wool was sold for the season. This was over 56,000 bales more compared to the 1,652,720 bales sold last season. Similarly, AWEX reports around 6.65% more first hand wool was offered at auction this past sea-son, compared to 2015/16. Closing price levels in AUD and USD were 16% and 20% higher respectively on year to year values.
Click here to access AWI's Wool Weekly Market Report (PDF 598 KB)