For merino wool, there was little motion in value for the primary half of 2025, with an abrupt rise in worth in the course of the September quarter. Determine 1 reveals the merino common fibre diameter (18-18.5 micron) MPG value from 2015 to final week, in addition to the japanese AWEX 28 MPG, all in nominal Australian greenback phrases. The 400-cent rise within the merino value within the September quarter stands out after a couple of lacklustre years.
The crossbred value (on this case, the 28 MPG) had been slowly rising since reaching a unprecedented low level in 2023. This upward development accelerated strongly within the September quarter, with the 28 MPG up by 300 cents.
The value rises seen within the greasy wool market within the September quarter had been in stark distinction to the continued sluggish efficiency of the opposite main attire fibres (learn extra right here).
Determine 2 reveals the typical value by half micron for all merino wool bought in December 2024 and December 2025 between 14.5 and 22.5 micron, together with the change in value stage in share phrases. For 17 micron and broader classes, costs are roughly 30-35% larger than year-ago ranges. Costs for 16 micron and finer haven’t risen by as a lot (if in any respect) as they’ve been buying and selling at significantly better ranges by historic requirements.
Determine 3 reveals the all in common value by half micron for non-merino wool from 20 via 39 micron for December 20024 and December 2025 (to final week) and the change in value in share phrases (gray columns). The most effective performing non-merino micron classes had been 26 via 31 micron, with 28 micron costs lifting by practically 70%, 12 months on 12 months.
A lot focus is centred on demand for wool costs, which tends to drive the cycles and traits. Provide, which results relative costs between wool classes (and fibres), is a crucial driver of the market construction. Determine 4 reveals the change in AWTA core take a look at volumes between the 2024 and 2025 calendar years. 2025 volumes are estimated by utilizing information as much as November and adjusted as much as a full 12-month quantity. AWTA volumes embrace wool bought exterior of the public sale system. Determine 4 reveals that solely the 15 micron and finer classes have loved elevated manufacturing, with 16 micron and broader volumes all falling. The 21 micron class and the 32 micron and broader classes suffered the most important drop, each round 30%.
A significant driver of manufacturing is rainfall. Determine 5 reveals a weighted common (for wool manufacturing areas) rainfall rank by state to November 2025, with the bubble measurement reflecting the proportion of the Australian wool clip contributed by every state, with the Riverina cut up out of NSW. Queensland had one of the best rainfall, with a rating of 74% (the rating compares rainfall for the earlier 12 months to the previous 40 years), however solely contributes 2.7% of the nationwide wool clip. Victoria and South Australia had low rainfall ranks (round 24%), impacting 37.5% of the nationwide clip. The NSW numbers mix a dry south and a wetter northern part, with the typical rank round 44%, therefore splitting NSW into the Riverina and NSW excluding the Riverina. If we add the Riverina to Victoria and South Australia, it means half of the nationwide clip was battling low rainfall up to now 12 months. This interprets into decrease sheep numbers, decrease clear fleece weights and decrease micron wool.
