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Beyond the Bale : March 2015
52 MARKET INTELLIGENCE INTELLIGENCE REPORT Australian total wool supply is now sitting at historically low levels. This season’s data is indicating that the wool production of 17.5 micron and finer is now on the decline and within the finer Merino types, the 17.6 to 18.5 micron band is the only sector to record three-year consecutive growth. Interestingly, the broad micron (20.6 to 23.5 micron) Merino wool production is growing, albeit to a minor level. The Crossbred wool categories of 26.6 and broader are all showing growth in production. GreasyVolume(tons) Micron 0-16.5 0 5000 10000 15000 20000 25000 30000 16.6-17 .5 17.6-18.5 18.6 -19.5 19.6 -20.5 20.6 -21.5 21.6-22.5 22.6-23.5 23.6-24.5 24.6-25.5 25.6-26.5 26.6-27 .5 27.6 -28.5 2013/14 2012/13 2014/15 AUSTRALIAN SUPPLY DISTRIBUTION BY MICRON MARKET This graph shows the rise in the Eastern Market Indicator (EMI) over the past 24 years since the collapse of the Reserve Price Scheme. The graph also shows the average EMI for successive four-year periods. In the 20 year period between March 1991 and March 2011, the average EMI rose 229 cents. In the following four year period (up to the present), the average EMI rose 216 cents (ie almost the same as the preceding 20 year period). 0 2 4 6 8 10 12 14 16 MAR91TOMAR95 MAR95TOMAR99 MAR99TOMAR03 MAR03TOMAR07 MAR07TOMAR11 MAR11TOMAR15 +31c +102c +102c -6c Monthly EMI (AUD) Maximum Minimum Average +216c HEALTHY RISE IN AVERAGE EMI IN THE PAST FOUR YEAR PERIOD AVERAGE EMI RISE OVER PAST 24 YEARS