Weekly Market Wrap
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With Mark Dyson, Managing Director
September 4, 2009
Wool prices hold firm
THE wool market held firm this week, with the Eastern Market Indicator (EMI) gaining another 3 cents per kilogram clean to close at 815c/kg.
There was little movement in the Australia dollar this week, but prices did increase slightly in all currencies.
A total 42,167 bales were put under the hammer, achieving a 90 per cent clearance.
Bales withdrawn prior to sales amounted to 1945, while nearly 12pc of the offering comprised re-offered wool.
The buying trend has continued, with China and India providing most of the competition.
Prices for most Merino types firmed slightly, except for superfine wools.
Average Merino Price Guides (MPG) were down by 17c/kg for 16.5 microns, by 10c/kg for 17 microns, by 8c/k for 17.5 microns, up by 2c/kg for 18 microns, by 7c/kg for 18.5 microns, by 3c/k for 19 microns and down by 2c/kg for 19.5 microns. The 20 micron wool average MPG was unchanged, 21 microns was down by 3c/kg, 22 microns was up by 3c/kg, 23 microns was unchanged, and 24 microns was up by 3c/kg.
There was good demand for Merino skirtings again, while crossbred wools generally eased slightly.
The roster for next week comprises 46,226 bales in Sydney, Melbourne and Fremantle. The New Zealand Merino Company will offer 2065 bales in Melbourne next week.
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