Australian Merino and crossbred wool prices surged this week as exporters responded to strong domestic demand from China and early-season supply concerns. The Eastern Market Indicator (EMI) climbed 41 cents to 1,689 cents per kilogram clean, reflecting a 9.2 percent rise over the past three selling days.
The Australian Wool Exchange (AWEX) reported 43,497 bales offered, the largest national auction since the same week last season, with brokers selling all but 1.7 percent. Merino fleece types rose 16 to 42 cents on opening day, while crossbred wools recorded their largest percentage gains, with 28- and 30-micron types up 43 cents and 37 cents respectively. Over the past year, these categories have jumped more than 77 percent.
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Australian Council of Wool Exporters and Processors president Josh Lamb said strong Chinese demand drove the rally, although supply concerns remain for later in the season. Australian Wool Innovation noted robust exporter competition across fleece, skirting, and oddments, reinforcing market confidence. A slightly stronger Australian dollar, trading near US68 cents, has yet to dampen overseas demand.
Next week’s sales, shifted to Wednesday and Thursday for the Australia Day holiday, will offer 43,997 bales. Analysts say the market’s performance will provide key insights into offshore buyer support ahead of the mid-February Chinese New Year auction recess, when short-term availability is expected to tighten.
