Australian wool prices eased for a second week at auctions held on 20 and 21 October 2026, the 17th week of the selling season. The Eastern Market Indicator, the industry's main benchmark, closed at 1,785 Australian cents per kilogram, down 18 cents, according to Australian Wool Innovation's weekly report published on 22 October. That is about $5.68 a pound ($12.53 a kilogram).
Fewer bales came to market than the week before. Brokers offered 25,892 bales nationally, 7,373 fewer than in Week 16, and 86.4% of the offering sold. Growers withdrew more wool as prices slipped: the national pass-in rate, the share of bales not sold because the bid fell short of the seller's reserve, climbed from 7.5% on Tuesday to 19.2% on Wednesday.
How the week unfolded
Trading opened about five cents lower on Tuesday. Fremantle, in Western Australia, recorded the sharpest fall, with some Merino categories down by up to 60 cents. On Wednesday the benchmark lost a further 14 cents and Southern Merino fleece saw 26.5% of lots passed in. Moses & Son, a wool broker in Temora, New South Wales, said exporters were reluctant to sell forward below market levels, while Chinese exporters buying for top-making orders kept buying with less competition.
Week 17 at a glance
- Benchmark (EMI)
- 1,785 Australian cents/kg, down 18
- Week 16 close
- 1,803 Australian cents/kg
- Same week of 2025
- 1,427 Australian cents/kg
- Bales offered
- 25,892
- Share sold
- 86.4%
- Next week's forecast
- 31,398 bales
Fine wool held its value
The fall was uneven. In Sydney, superfine and spinner-style Merino drew strong competition, with some lots selling up to 200 cents above more average wool. Moses & Son noted that the 17-micron guide opened the season at 2,617 cents and closed this week at 2,593, a slip of under 1% across 17 weeks.
| Fiber diameter | Australian cents/kg | About, in US dollars |
|---|---|---|
| 17 micron | 2,593 | $8.25 a pound ($18.19/kg) |
| 19 micron | 2,224 | $7.08 a pound ($15.61/kg) |
| 21 micron | 1,813 | $5.77 a pound ($12.72/kg) |
| 28 micron | 747 | $2.38 a pound ($5.24/kg) |
Clean-wool prices, converted at the Australian dollar rate on 21 October 2026 and rounded.
“The early market intelligence is more of the same apprehension from the exporters to buy what they have not sold.”
Marty Moses, Moses & Son weekly market update
What it means for suit prices
One soft week does not change the bigger picture. The benchmark is still about 25% higher than in the same week of 2025, while offerings are down about 12.5%. Wool is only one part of what a finished suit costs, and mills buy raw wool many months before their fabrics reach a tailor, so auction moves take time to filter through. For now, the steady price of fine Merino suggests that the cost of quality worsted suiting is not falling.
If you are choosing between fabrics for a new suit, our guides to suit fabrics and worsted vs woolen explain what you are paying for.
What happens next
About 31,398 bales are forecast for next week's sales, a larger offering that will test whether buyers return at current prices.
