Highlights for wool
- The Australian wool market has moved slightly higher over the past four weeks. The AWEX EMI has risen 8 cents and finished week 49 at 1,199 c/kg, sitting 47 cents up year-on-year.
- The Australian Dollar has kept significant pressure on wool prices. The AUD has held relatively steady over the past month and finished week 49 at 64.62 USc. As a consequence, the EMI in USc terms has fluctuated far less over the past month. The EMI in USc is now sitting at 775 USc/kg, up 8 US cents year-on-year.
- Merino wools have continued to have volatility in the prices achieved across individual selling days at the three selling centres. By comparison, the medium and crossbred wool types are faring better year-on-year. Week 49 recorded the lowest offering since September 2020, a peak of Covid restrictions. Despite the lower supply numbers, demand is limited, particularly across the finer microns used in luxury goods. As the Australian dollar continues to hold its value against the US dollar this is placing downwards pressure on the market.
- As predicted by ABARES, looking forward through June to the end of the season prices are expected to fall lower as global demand decreases on trade uncertainty and weaker growth outlooks in China and Italy.
Source: Australian Wool Exchange (AWEX)
Claire Adams
Agricultural Analyst
Claire is our Insights specialist for the wool industry. She combines her experience through government, industry and agriculture alongside a Masters in Global Food & Agricultural Business and a Bachelor of Environmental Science (Hons).
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