Woolgrowers have a renewed sense of market confidence after tough seasons, thanks to the strong start for 2026 prices.

Woolgrowers are locking in their bales to sell at Melbourne after a market resurgence has kickstarted the year for sales.

Elders wool operations national manager Simon Hogan said the eastern market indicator sat at 1665c/kg on Thursday after a 30-40c/kg drop on Wednesday.

The EMI had a strong start to 2026, with prices gaining 107c/kg in the first week and 41c/kg last week.

“It was virtually an unchanged market right through (from Wednesday to Thursday),” he said.

“The market is dominated by China and our largest exporter Techwool were very active, buying a large range of types and they bought 23 per cent of the offering today.”

Mr Hogan said there were about 43,000 bales on offer with few withdrawals and a good clearance rate.

“Most growers are really pleased with the significant rises in recent months,” he said. “The one area we’re looking for improvement is the 18 microns and finer. The premiums compared to the middle microns are still quite small.”

Jerilderie NSW’s One Oak Poll Merino stud principal Alistair Wells sold about 100 October/November-shorn 18 micron bales at Melbourne on Thursday.
He said wool sold about 35c/kg above its valuation and around $4.50c/kg above the same time last year.

“The market is heading in the right direction, but I’d say the 23 per cent drop in shorn wool numbers over the past two years is significantly an indicator of where agriculture is at,” Mr Wells said.

“You’d hope this rise is a long-term sentiment but I suppose it’s not up to us.”

He managed 2400 breeding ewes and focused on top-quality wool, with his next steps aimed at achieving “more wool easier”.

“If you look here (at other bales), clean yield and volume is being chased,” Mr Wells said.

He said they had had a tough season at home, and were currently building a feedlot for ongoing seasonal management.

Rachel Simmonds
The Weekly Times