Week 52 - June 2024
Eastern Market Indicator (EMI)
Eastern Market Indicator (EMI)
Microns
AWEX Auction Micron Price Guides
Sales held Tue 25th Jun & Wed 26th Jun 2024
Offering (Aust. Only)
Offering (Aust. Only)
Sales Week 52: 27th June 2024
Currency Movements
Currency Movements
Sales Week 52: 27th June 2024
Forecast
Forecast
Scheduled Australian Wool Auction Sales
AWI Commentary
The final week of Australian wool auctions for the 2023/24 has ended lower. Sluggish demand combined with a strengthening AUD which shelved for the time being any chance of improvement in values. Merino prices closed the week generally 25ac cheaper with all other sectors par to minus 10ac.
As prices lowered within the Merino sector, the big three Chinese top makers increased their purchasing rates and saw their combined intake reach 44% of all Merino fleece offered. The crossbred sector was far more competitive with a larger range of trader interests contributing to keeping prices steadier and even slightly better in some areas throughout selling.
The past season could only be described as average, with possibly one of the least fluctuating price ranges seen in many years . The low of the season was at the commencement being 1126ac, with the top weekly closing EMI of 1213ac in the first week of the new 2024 calendar year. This was an intra seasonal difference of just 87ac, with a trading range of just 3.8% around the mean. Just two weeks straddling December 2023 and January 2024 had weekly closing levels above the 1200ac mark on the EMI.
The new selling season 2024/25 commences next week, but the scheduling of wool auctions has changed. The first four weeks of this season will be holding auctions (as opposed to just the two week of previous seasons), but Fremantle will not hold a sale in week 3. The traditional large offerings will be somewhat dissipated through the month of July, but what volumes we will see on offer at the end of August following the moved three-week recess will be interesting. Next week sees around 36,500 bales being offered.
