This week saw the volume sold at Australian wool auction markets for the current season reach beyond the 1 million bale mark, but unfortunately the real news was the retraction of price levels across most wool types. Merino fleece wools managed to hold on reasonably well, but all other sectors of the market were adversely affected. The AWEX EMI (Australian Wool Exchange - Eastern Market Indicator) registered a 57ac reduction for the week to close at 1744 ac clean/kg. In USD the EMI fared better but still slipped 36usc lower to 1398usc clean kg.
Whilst a retracting market is never good news for woolgrowers, when placed in context, the EMI when expressed in AUD is sitting at levels 23.5% higher than at this time 12 months ago, but more significantly, the demand-indicating USD price for the EMI is a com-pelling 31.5% higher than at this time last year.
Click here to access AWI's Wool Weekly Market Report (PDF 911 KB)