Abstract-Effective permittivity and permeability of a medium consisting of an infinite number of ferromagnetic microwires are evaluated in this paper. Analysis is carried out with the help of local and average fields inside a unit cell. In the literature, effective permittivity of the microwire grid is obtained by assuming the grid as an impedance loaded surface. The analysis is applicable only for the case of T M z polarized normally incident wave. Proposed analysis enable us to evaluate all the three diagonal components of effective permittivity and permeability for arbitrarily incident uniform plane wave having arbitrary polarization angle. Numerical results are obtained through MATLAB, and a comparison is done with the results available in the literature for validation. Numerical results have shown a DNG like behaviour of the medium for a T M z polarized incident wave.