While Australian wool auction results remained mostly unchanged last week, with some softening in Western Australia, measured in US dollars (USD), the market saw a 1.3 per cent increase in the Eastern Market Indicator (EMI). This reflects a slightly stronger demand considering the global wool trade primarily uses USD.

Following the Chinese New Year break, activity in the Australian wool market picked up as businesses resumed operations. While direct buyers and some traders showed increased participation, European operators remained cautious, according to a report by the Australian Wool Innovation (AWI) report.

Demand for Merino Wool (19-22 microns) continued to rise leading to a slight rise in prices. However, prices of super fine wools declined.

Prices of finer and broader micron crossbred wools also declined while those of mid-micron types remained stable due to stronger exchange rates. Carding Wool prices held firm, with some sectors even witnessing slight increases.

This week, the market anticipates 40,000 bales offered, indicating continued activity.