Business & Rural
5 May, 2026
WOOL REPORT: market continues upwards
There was a total of 33,666 bales available to the trade, this was 11,099 less than in the previous week.
THE Australian wool market has continued to track sharply upward, recording large increases for the third consecutive selling week. There was a total of 33,666 bales available to the trade, this was 11,099 less than in the previous week.
This smaller quantity attracted strong widespread competition, pushing prices higher from the outset. In a rare opening day, Melbourne and Fremantle opened proceedings, as quantity dictated that Sydney only required one selling day (Wednesday). The largest rises were again seen in the merino fleece types. These rises were reflected in the Micron Price Guides (MPGs) which added between 21 and 87 cents. With only Melbourne contributing to the benchmark Eastern Market Indicator (EMI) only 26 cents was added. All three centres were in operation on the second day, and the market continued to rise. Again, buyer sentiment was extremely high and bidding was spirited. The MPGs across the country added between another 20 and 121 cents, the largest gains were recorded in Sydney, as they did not enjoy the gains on offer on the previous day. The EMI closed the day 44 cents higher, finishing the day and the week at 1,895 cents. The EMI has added 171 cents over the previous three selling series, a rise of 9.9%. Compared to the corresponding sale of the previous season, the EMI is 663 cents higher, an increase of 53.8% over the previous twelve months.
Currency did not play a large part this week as there were similar rises when viewed in USD terms. The EMI rose by 57 US cents for the week, an increase of 4.4%. Of note was the clearance rate, which was again very low, just 2.8% failed to reach seller reserve. For the past three weeks the passed in rate has been below 2.8%, reducing the number of bales held in broker’s stores.
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