Weekly Market Report
Mark Dyson, Managing Director
Wool market makes further gains
23 June 2017
The wool market made further gains this week on the back of a lower offering of just over 24,000 bales and a steady Australian dollar trading at mid-75 US cents, with the Eastern Market Indicator (EMI) increasing by 27 cents finish to 1533 cents per kilogram.
Following the trend of the past fortnight, the first day’s selling resulted in all Merino micron categories making solid increases of 16-39c/kg.
Best style wools continued to attract good trade attention, with higher vegetable matter types also receiving better competition as buyers jostled to fill orders against the limited supply.
Skirtings followed a similar trend increasing 10-20c/kg for the week, with XB increasing marginally on last week’s quotes.
Oddments remained firm to dearer, with low fault types less than two per cent hard to come by. Values flatlined on the second day’s trade as buyer’s orders filled on a lacking supply.
Forward contract price indications showed steady gains out to August delivery, with little change for the Spring delivery time frames.
Next week’s sale volumes increase to an national offering of 36,993 bales, with Fremantle back in operation.