Week 32 - February 2025
Eastern Market Indicator (EMI)
Eastern Market Indicator (EMI)
Microns
AWEX Auction Micron Price Guides
Sales held Tue 4th Feb & Wed 5th Feb 2025
Offering (Aust. Only)
Offering (Aust. Only)
Sales Week 32: 6th February 2025
Currency Movements
Currency Movements
Sales Week 32: 6th February 2025
Forecast
Forecast
Scheduled Australian Wool Auction Sales
AWI Commentary
All wool types and descriptions were dearer at this weeks’ Australian wool auctions, with some substantial gains being recorded through the broader end of the Merino sector. Auctions were conducted under the most competitive environment seen for quite some time and the Eastern Market Indicator (EMI 1215ac) was the highest weekly basis in AUD terms since mid-May 2023. In US dollar terms though, the EMI has returned to October 2024 levels.
Some key ingredients this week forced price pressure upon the trade. Not the least was the forex, with the AUD traded at just over 0.61 against the USD since the last auction. This is masked by the week-to-week movement being higher. In addition, some buying from Europe and auction purchasing by EU top maker appeared. Late in the week , Indian mills showed interest, as further buying from China stalled as spot prices moved up.
The lower-than-normal auction volumes available in Melbourne had sale room operators scrambling to purchase. As such, price gains in that centre were of a higher magnitude than the others and were quite often being transacted at 50ac (+3.5%) above the levels of the previous week for >18.5 micron. The general price gains in that sector were 35ac/clean kg whilst <18.5mic were generally 15ac dearer. Crossbred wool was +15ac and cards +5ac.
All the usual buyers returned to sale rooms this week after some took a weeks’ break for Chinese New Year. Their renewed participation certainly added to the positive atmosphere. Somewhat surprisingly, the largest trading export buyer operated to a seemingly toned-down strategy on the first days selling and all other traders set the pace, with China top makers in support. The final day saw all buyers back fully to action.
41,000 bales next week.
