Around 29,000 bales of Autralian wool scheduled for auction this week

This week, around 29,000 bales of Autralian wool are scheduled for auction across all selling centers. Last week, Australian wool auctions saw minimal movement in the Eastern Market Indicator (EMI), despite notable price fluctuations across various wool types. While the Australian dollar strengthened against the US dollar, the EMI still climbed 1.3 per cent in USD terms, hinting at underlying demand.

Prior to the sale, exporter sentiment remained subdued, with limited reports of new business. This cautious mood led to softer prices for many Merino offerings, as noted by Australian Wool Innovation (AWI) in its commentary for the first week of the current wool marketing season.

Crossbred wools were the standout performers, rising by 15 to 25 Australian cents due to surging demand. Mid-micron Merino wools, however, dipped around 15 cents. In contrast, finer-than-18-micron and broader-than-20-micron categories saw gains of 5 to 15 cents. Carding wools also increased by approximately 5 cents, the AWI commentary added. In the Merino segment, China's top makers drove buying activity, supported by a major trader. Traders, meanwhile, dominated purchases across other wool types.