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-S42
The AWEX EMI closed on 1232c down 30c at auction sales in Australia this week. Tuesday’s market opened with expectations of a downward price correction and unfortunately the EMI recorded a first day loss 22c. In the context of the EMI in USD it regained the 34USc that it lost last week. Whilst the falls moderated on Wednesday the combination of an world economies unravelling the ongoing US tariff negotiations, a gyrating and somewhat unfavourable exchange rate, and a slightly larger volume created the perfect storm for a falling market.
Impact of global economic uncertainty is playing a key factor in the wild fluctuations in our currency exchange rate with the USD yet seems to have had minimal impact on the price of wool in US terms. Ironically, the wool trade in Sydney hosted a feature wool sale this week, celebrating and showcasing Australian wool industry to the public, by moving auction rooms to the Sydney Royal Easter show.
Merino Fleece
With the wave of US tariff turmoil dominating the world’s economic focus, exporter confidence was severely undermined from the first lot offered on Tuesday. Most MPG' fell between 35 and 50cinitially and once the new price basis was established the exporters focussed on purchasing at that level to complete their forward commitments. Wednesday whilst continuing to post small reductions in the MPG’s was described by some as a better day with interest on the best style improving slightly. Conversely this week saw the volume of seasonally impacted low yielding clips hit the market and the discounts to their better style counterparts was substantial.
Merino Skirtings
Mimicked the sentiments of the fleece with price falls across the board in line with the impact of the rising value of the AUD dollar taking the shine of the previous price basis.
Merino Cardings
Sold in line with the market movement and whilst Sydney’s quoted losses of 5c per day , Melbourne was -19c and Fremantle posted a whopping 43c loss for the week.
Crossbred Fleece
Crossbred Oddments
Crossbreds
Whilst cheaper the best specified lots still sold to reasonable levels.
Next Week
Graphs
Market Commentary
There are no Wool Sales scheduled for next week as the market heads into the one-week Easter recess. I think the break could not have been better timed and it will allow some mental stress relief for all participants.
The news on the impact of the “Trump Tariffs” seems to be moderating as the puzzle unfolds. These are certainly interesting and testing times for all world traded commodities and is making predictions of “where to from here” almost impossible to formulate. For wool, I believe it is a question of “When” rather than "If” the market will rise. We all have our fingers crossed it will be sooner rather than later, but my opinion is that it seems unrealistic to expect a sustained rise in the market this side of Christmas 2025. ~ Marty Moses