Week 07 Wool Market Review
AWIS WOOL MARKET REVIEW
Week Ending 20 August 2021 (Week 07) The AWEX EMI continued downwards on Tuesday, but steadied on Wednesday when it moved up by 3¢ at sales in Sydney, Melbourne and Fremantle in Week 07. The closing EMI on Wednesday was 1335¢, 37¢ lower (-2.7%) in Australian currency and 41¢ lower (-4.1%) in US currency. 32,238 bales were on offer nationally, compared with 49,181 bales last sale. Growers responded to the further downward movement in the market when 28.4% of the offering was passed in after 15.2% was withdrawn prior to sale. 23,085 bales were sold. AWEX reports that the value of the wool sold was $33.4 million ($1,447 per bale), taking the season total to $226.7 million ($1,583 per bale). The number of bales sold at auction this season is now 19.3% greater than in 2020/21. The New Zealand Merino Company also offered 2,187 bales in Melbourne on Wednesday in their first sale of the season. 1,533 bales were sold after a Pass-In rate of 29.9%.