April’s wool market update

Highlights for wool

• The Australian wool market has gained ground over the past month. The AWEX EMI finishing higher in five out of the last six weeks and now sitting at 1,249c/kg. This has resulted in the EMI gaining 54 cents since the last selling week in February and is now up +9.4 per cent from this time last year.
• The Australian wool market has gained ground over the past month. The AWEX EMI finishing higher in five out of the last six weeks and now sitting at 1,249c/kg. This has resulted in the EMI gaining 54 cents since the last selling week in February and is now up +9.4 per cent from this time last year.
• The Australian Dollar has eased slightly over the past five weeks resulting in the EMI in USc terms gaining 31 cents to now sit at 787 USc/kg, although it did reach as high as 794 USc/kg in week 38.
• Wool prices are expected to face pressure throughout April as the market adjusts to escalating trade tensions. The implementation of US tariffs on China and Europe is expected to reduce demand downstream and limit enthusiasm in auction rooms, although reduced production this season as well as the weaker Australian Dollar is expected to be supportive.

Joe Boyle

Agricultural Analyst

Joe is our Insights specialist for sheep and wool industries. He hails from a cropping and sheep farm in northwestern Victoria and has studied a Bachelor of Agriculture at the University of Melbourne.