The Australian wool market wrapped up the 2025–26 selling season with a weaker final week, as buyers pulled back after several weeks of strong price momentum and Merino categories came under renewed pressure. The Eastern Market Indicator (EMI) dropped 46 Australian cents to finish at 1,943 ac/kg, while in US-dollar terms it fell 63 US cents to 1,342 usc/kg, according to Australian Wool Innovation’s Week 52 commentary for June 2026. In the west, the Western Market Indicator (WMI) also softened, shedding 41 Australian cents to 2,129 ac/kg, and declining 63 US cents to 1,470 usc/kg.
The setback was most pronounced in Merino fleece, particularly in the finer micron ranges that had been leading the earlier rally. Fine Merino types (16.5–19 micron) fell by around 70–75 cents across the selling centres, while medium Merinos (19.5–21 micron) slid by roughly 65–70 cents. Crossbred wool, however, moved in the opposite direction. Broader 25–32 micron lines continued to attract buyer interest and lifted by about 15–20 cents. Merino cardings eased by 10–15 cents, indicating a softer tone in that segment as well.
Market observers said the end-of-season dip appeared to be driven more by caution and price discipline than by a sudden deterioration in underlying demand. After the rapid run-up in recent weeks, buyers became more sensitive to values, while many sellers resisted accepting reduced bids. That standoff contributed to a lower national clearance rate, which eased to 83.4% for the week.
Despite the late decline, the season as a whole delivered a powerful rebound. The EMI ended 736 Australian cents higher than a year earlier, representing a 61% lift over the 2024–25 closing level. In US-dollar terms, the benchmark gained 557 US cents, a 71% year-on-year increase—highlighting the scale of the improvement across the 12-month cycle.
Supply conditions were marginally tighter than the prior season, with total auction offerings down 3.4%. Even so, the higher price environment more than compensated: the total value of wool sold through the auction system increased by $675 million, pointing to robust trading conditions through most of the year.
The 2026–27 season is set to begin with 33,489 bales rostered for sale. Fremantle will sell on Wednesday, while Sydney and Melbourne will run auctions across Wednesday and Thursday, providing the first test of buyer appetite for the new season in the Australian wool market.
