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-S30
The AWEX EMI closed the week on 1186c down 4c at auction sales in Australia this week. With the offering increasing to 49,692 bales on the back of last week’s34c rise in the EMI the market performed relatively well under the pressure of increased quantity and the strengthening AUD against the USD. The EMI in USD increased by 6c to close on 743Usc. 92.6% of the offering cleared to the trade with the Northern Regions pass in rate a mere 3.3% whilst Melbourne and Fremantle passed in 7.7% and 13.7% respectively. Exporter activity was driven by the large Australian based Exporters and pushed by the 2 largest Chinese Early-stage processors.
Merino Fleece
Merino Fleece measured moderate price falls ranging between 13c-27c in the 16.5µ-19.0µ MPG’s. The 19.5µ and 20µ MPGs held close to, or in some cases, slightly above last week’s closing levels with the top 4 buyers purchasing 51%of the fleece offering. Concerns of the volume of suitable specified merino fleece is emerging as an issue with a growing % of the current offering falling outside of the Chinese standard specifications.
Merino Skirtings
Merino Skirtings opened strongly holding up on last week’s price levels. Despite the merino fleece faltering the best prepared and specified lots improved their price on last week’s levels. Purchasing was dominated by the 2largest Australian based Exporters who collectively purchased 48% of the skirting offering.
Merino Cardings
Merino Cardings remain irregular as demonstrated by an 8c rise in the Northern MC whilst its Southern counterpart fell 1c and the Western MC gave back 7c on last week’s levels.
Crossbred Fleece
Crossbreds were once again a tale of two markets with the 25-26 MPG’s falling by 11 &15c, respectively. Conversely the 28 MPG held within 5c or last week’s levels and in Melbourne it was able to add 5c to last week’s levels. The coarser XB lots also closely straddled last week’s MPG levels.
Crossbred Oddments
Crossbreds
Next Week
Next week’s national offering is forecast to reduce significantly, there is currently 34,565 bales expected to be offered in Sydney, Melbourne and Fremantle. Sales will be held in the unusual selling pattern of Tuesday and Thursday.~ Marty Moses.
Graphs
Market Commentary
Market commentary: Dominating the international news this week was the inauguration of the Donald Trump the 47th USA’s President and leader of the Republican candidate. The event has had a mostly positive impact on the markets as he unfolds his policies however, I am sure the news will have some negative impact on trade as the tariffs on imports into the US unfold.
The upcoming selling week coincides with the Chinese spring festival (New Year) holiday. Most of the Chinese factories, manufacturers and traders will allow staff 3 days to a full week or more off work. South Africa will suspend their wool auctions for the week. Australian wool auctions will continue but altering the offering over Tuesday and Thursday. With the normal Wednesday selling day being cancelled to allow for the celebrations in China.