Average monthly EMI comparison
During the past three months, the monthly EMI averaged at $12.03 which is a 133c decrease from the average monthly EMI for the previous three months, and is tracking at the 17th percentile against the previous five-year monthly EMI. This means that in the previous five years the monthly EMI has recorded a lower price than the current $12.03 (May 2023 – July 2023) for 17% of the time.
The chart below provides a snapshot of how the AWEX monthly Eastern Market Indicator (EMI) and a range of microns have performed for the past three months (May 2023 – July 2023) in Australian dollar terms compared with the previous five years May 2018 to April 2023 (circles) and the decade previous to that, May 2008 – April 2018 (squares).
During the past three months, the monthly EMI averaged at $12.03 which is a 133c decrease from the average monthly EMI for the previous three months, and is tracking at the 17th percentile against the previous five-year monthly EMI. This means that in the previous five years the monthly EMI has recorded a lower price than the current $12.03 (May 2023 – July 2023) for 17% of the time.
While the EMI is tracking at the 17th percentile over the previous five years, it is tracking at the 60th percentile when compared to the decade May 2008 – April 2018. This means the current EMI of $12.03 (May 2023 – July 2023) is higher now than it was for 60% of that decade.
18 micron averaged at a monthly value of $17.07 (18nd percentile for the previous five years and 73rd percentile for the decade before that), 21 micron averaged at $13.54 (29th percentile for the previous five years but 72nd percentile for the decade before that), and 28 micron averaged at $3.19 (11th percentile for the previous five years and 1st percentile for the decade before that).
For the past three months, Merino Cardings averaged at $7.50, operating at the 12th percentile for the previous five years and at the 39th percentile for the decade before that.
Market intelligence at wool.com
An important part of AWI’s Wool.com website is market intelligence information for woolgrowers.
As well as the Weekly Price Reports and Monthly Market Intelligence Reports, there is a graphical display of:
- Eastern Market Indicator – you can select to display AUD, USD, CNY or EUR.
- Offering – displays bales offered and bales sold.
- Currency movements – you can select to display AUD/USD, AUD/CNY or AUD/EUR.
- Forecast of bales sold – displays previous season, current season, current week and forecast.
For the first three categories above, you can select to display data from 3 months to 3 years ago.
AWI also continues to send wool prices and market intelligence direct to about 6,700 woolgrowers’ mobile phones. If you would like to subscribe to the free SMS service, visit www.wool.com/subscribe where you will be asked to input your name and the mobile phone number to receive the SMS. You can unsubscribe from the service at any time.
More information: www.wool.com/marketintel
This article appeared in the September 2023 edition of AWI’s Beyond the Bale magazine. Reproduction of the article is encouraged.
