Market Intelligence
Weekly Wool Market Commentary
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2024-S36
Week S36: 05/03/2025: The AWEX EMI closed at 1225c, up 30c, at auction sales in Australia this week. The EMI reached its highest level since January 2024, while in USD terms, it rose 9c to settle at 765 usc, also the highest point in five months. Despite a 1% rise in the AUD during the week, the market performed extremely well in the eyes of sellers, marking one of the best weeks in some time. Out of 32,600 bales offered, a healthy 97% clearance rate was achieved! Competition was widespread, with Australian-based traders battling it out with Chinese and Indian indent operators and Chinese Top makers.
Merino Fleece
For the first time in a while the market opened with solid competition from the first lot on Tuesday and continued to rise through to the last lot on Wednesday. The Merino MPG's rose between 22c and 55c, with the biggest gains seen in the 18.0, 18.5 & 19.0 MPGs in the eastern market centres. Notably, Fremantle MPGs continued to rise even after the eastern states had closed on Wednesday, with some outperforming their eastern counterparts. While most sectors remained active, Italian interest was negligible this week, possibly signalling the end of their purchasing season in the short term.
Merino Skirtings
The skirtings initially held last week's levels for the first hour of selling, but it did not take long for good skirtings to follow the Merino fleece trend, resulting in price rises between 20c and 45c for the week.
Merino Cardings
Merino locks & crutchings added 5c–10c on Tuesday and held fully firm on Wednesday. Bulky crutchings continued to attract bullish competition at large premiums, while stains remained firm throughout the week. Merino lambs were also keenly sought after.
Crossbred Fleece
The crossbred fleece sector had a solid opening for in-specification types, with Sydney clearing 100% of Tuesday’s crossbred offering and 98% on Wednesday’s. While Sydney’s MPG's held firm on nominal quantities, Melbourne’s offering—primarily 26µ to 32µ—rose between 8c and 15c.
Crossbred Oddments
Crossbreds
Next Week
Next week's offering totals 37,942 bales, with: • Melbourne selling on Wednesday and Thursday • Sydney and Fremantle selling on Tuesday and Wednesday Early market intelligence suggests a stabilization of this week’s prices. ~ Marty Moses.
Graphs
Market Commentary
This week, the release of the AWTA monthly and year-to-date figures showed February testing down 9.5% year-on-year, while the progressive total year-to-date indicates a 10% fall. Despite the rise in EMI and Merino MPG's, the fundamentals of demand do not appear to have changed. More so, the primary factors affecting weekly price fluctuations are: • Reduced weekly supply offerings • Shipping date pressures • Currency exchange impacts We seem to have returned to a "just-in-time" strategy, highlighting a lack of genuine retail demand. In fact, I have received reports that large Chinese Top makers have expressed more negativity about trading conditions than usual. There is conflicting news emanating from the USA, as the Trump administration rolls out election promises at record speed. For the wool industry, the ongoing uncertainty surrounding trade tariffs remains a major concern. With the Republican Party focused on rectifying the U.S.-China trade balance, an immediate improvement in demand for Australian wool seems unlikely.