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.
2024-S16
The AWEX EMI closed on 1138cdown 1c at auction sales in Australia this week. From the 41,065 bales offered91.7% of the offering was cleared to the trade. The Australian dollar value remained relatively steady around $0.67c which meant the EMI closed down 4 USc for the week and now sits on 762c.
After some solid rises in the previous two weeks the merino fleece closed with irregular results. Whilst everyone looked to the Chinese Government to release an economic package that supported the actions of the Peoples Bank of China’s stimulus. The largest 5 buyers purchased 54% of the national offering.
Merino Fleece
MerinoFleece could even be quoted as largely unchanged in respectthere were more than 10,000 bales offered this week than offered last week. Thelarger offering placed pressure on the Super Fine MPG’s which lost between10-30c. Conversely The 18.5µ to 19.5µ MPG’s closed relatively firm or in somecases slightly dearer and the 20-22 MPG’s were all 2-5c cheaper. This meantthat orders were filled with ease well within the specification parametersthanks to the larger offerings. Competition was dominated by the LargeAustralian Trading houses, with great support from the Chinese Indents and theLarge Chinese Top Makers.
Merino Skirtings
Merino Skirtings attracted keen competition and were seemingly oblivious to the see sawing movements of the Fleece sector. The best specified and prepared FNF skirtings continued to attract premiums which were at times approaching the price levels of the average quality fleece.
Merino Cardings
Merino Cardings also range traded on or close to last week’s pricelevels. Sydney closed firm Whilst Melbourne fell 1c and the MC in Fremantlerose by 9c.
Crossbred Fleece
Crossbred Oddments
Crossbreds
Crossbreds opened relatively firm compared to last week’s levels. The 26 and finer adjusted down in value slightly on Tuesday however the 27 and coarser MPGs were all able to add a few cents to last week’s levels posting price increases from2-5c
Next Week
Graphs
Market Commentary
Next week's wool sales commence Tuesday 22nd October, offering 36,553 bales in Sydney, Melbourne and Fremantle. The early market intelligence is for a relatively stable market at, or possibly a slightly cheaper than the current price levels. ~ Marty Moses.