Robust demand pushed 17 micron wool greater, gaining 69¢ in Sydney to 1847¢/kg and 57¢ in Melbourne to 1825¢/kg. 18 micron wool gained 33–34¢, closing at 1728¢ in Sydney and 1744¢ in Melbourne. 20 micron wool in each Melbourne and Fremantle improved 50–51¢ to 1571¢/kg, whereas Sydney closed at 1561¢/kg.
Crossbred fleece additionally improved, with the 28 micron indicator in Melbourne rising 14¢ to 572¢/kg and the 30 micron up 11¢ to 498¢/kg, extending a gentle twelve-month restoration from multi-year lows. Cardings gained 8 to 23¢ throughout the centres, ending at 790¢/kg in Sydney, 750¢/kg in Melbourne and 812¢/kg in Fremantle.
The market improved this week largely on the again of one other modest providing, with volumes once more under 30,000 bales. Dry circumstances in key wool-producing areas are holding inventory restricted, and this constrained provide continues to underpin demand. Clearance of round 97% factors to robust competitors throughout the board regardless of the upper costs.
It’s value noting that the Australian greenback was among the many finest performers in opposition to the US greenback this week, with the AUD/USD pair reaching 0.6660 for the primary time since November 2024. This got here as US inflation in August rose 2.9% yr on yr, barely above July’s determine, giving blended indicators for the Fed, neither a dramatic slowdown nor runaway inflation. The firmer forex tempered a number of the market’s features when measured in USD, although the EMI nonetheless closed greater in each currencies.
This week in Mecardo, Andrew Woods reviewed how the volumes bought below high quality programs (non-mulesed, RWS and so on.) held up over the 2024 25 season regardless of tight provide and difficult seasonal circumstances (see article right here). He famous the autumn in general AWTA examined and auctioned volumes, with the overall down 8% yr on yr, however discovered that superfine and licensed wool managed to keep up premiums and proportionally stronger demand.
