Australian wool prices drop 12% in 6 months, show signs of recovery

09 Jun '24

2 min read

Australian wool prices drop 12% in 6 months, show signs of recovery

Pic: Adobe Stock

Insights

Australian wool prices have dropped by around 12 per cent over the last six months.
In the northern market, Sydney, 18 micron wool traded at $10 per kg in late May 2024, down from $11.45 per kg in December 2023.
Similar trends were observed in Melbourne and Fremantle.
Prices fell early in the year but showed some recovery in May 2024 due to seasonal demand.

Australian wool prices have witnessed a fall of around 12 per cent in the last six months. Wool of 18 micron was traded at $10 per kg in the northern Australian market, Sydney, in the last week. Although the price of this animal hair product came down from $11.45 per kg in the last week of 2023, it has seen recovery in the last few weeks due to seasonal demand and limited sale offerings in the auction centres of Australia.

According to Fibre2Fashion's market insight tool TexPro, wool of 18 micron opened at $11.31 per kg in the first week of the current year in the northern Australian market, Sydney. This was more than one per cent down from the price of $11.45 per kg in the last week of December 2023. It further dipped in the next quarter, with prices coming down to $9.87 per kg in the first week of April 2024. However, it improved to $10 per kg in the last week of May 2024.

Wool prices of the same micron were noted at $11.40 per kg in the last week of 2023 in the southern Australian market, Melbourne. The price came down to $11.19 per kg in the first week of January 2024. Wool prices further eased to $9.95 per kg in the first week of April this year. However, they recovered to $10.09 per kg in the last week of May.

In the western Australian market, Fremantle, wool prices rested at $9.87 per kg in the last week of May this year. They were noted at $11.22 per kg in the last week of December 2023. Later, the price slipped to $11.03 per kg in the first week of January this year and further came down to $9.80 per kg in the first week of April 2024. However, the prices slightly improved to $9.87 per kg by the last week of May 2024, as per TexPro.

Fibre2Fashion News Desk (KUL)

More Textiles News - Australia...

This according to Fibre2Fashion's Market Intelligence Tool - TexPro