Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Solid market sees EMI lift

After a shaky start, the wool market found solid territory as the sales progressed this week, with the Eastern Market Indicator (EMI) lifting by 23 cents clean to finish at 1699 cents per kilogram.

With the Australian dollar trading at 75.6 US cents, the first day’s selling resulted in most micron categories being marginally easier on the previous week and generally in the buyers’ favour.

The second day’s selling saw the trade rally for the better stylish wool types expressing low mid-breaks and of good strength measurement.

This resulted in the Merino micron categories increasing 4-18 cents clean, with the 26-28 micron crossbred wool types bucking the recent trend lifting 10-30 cents clean.

The final day’s trade saw a continuation of buyer confidence with more gains in the 18.5-23 Merino micron ranges of 5-17 cents clean, with all the crossbred micron types increasing by 8-26 cents clean.

Skirtings were well sought-after and lifted 20-30 cents clean, although heavier fault types above six per cent vegetable matter were irregular.

The carding wool sector continues to impress with locks, crutchings and stains increasing 30-40 cents clean for the week with lambswool maintaining their recent good trends.

The solid performance on the wool market this week saw passed in rates retreating below two per cent by week’s end.

The final wool sale for 2017 next week sees the national wool offering continue its recent supply with 52,922 bales on offer, with 30,062 of those from the Melbourne selling centre.