Australia’s the new wool selling season begins with approximately 30,000 bales on offer.

Australia’s the new wool selling season begins with approximately 30,000 bales on offer. The 2024-25 wool selling season concluded last week with an unusually flat finish, as the Eastern Market Indicator (EMI) showed no change in either US or Australian dollar terms—a rare event in the market.

Beneath the surface of the previous season's flat close, crossbred and carding wool types saw solid gains of 5 to 20 Australian cents (ac). Fremantle's single-day auction added 15ac/clean kg to its mostly Merino offering. Conversely, Merino fleece prices lowered 5 to 10ac in Eastern centers, primarily due to discounts on lower-quality lots. However, top-specification fleece remained firm, according to the Australian Wool Innovation (AWI).

Significant discounts were also applied to drought-impacted wool with low yields, with prices cut by 40 to 50ac for lots yielding below 60 per cent. Offshore topmakers absorbed these discounted lots amid reduced trader competition.

Chinese topmakers dominated buying, with the two leading buyers securing one-third of the Merino fleece sold. Australia's largest exporter claimed about 15 per cent of the total weekly offering. Responsible Wool Standard (RWS) certified clips continued to lead the market, fetching up to 150ac more than conventional wool, especially in the 19 to 20.5 micron range.