Weekly Market Report
Mark Dyson, Managing Director
Large offering hits market
12 August 2016
AS the wool market resumed selling this week, the Eastern Market Indicator (EMI) picked up where it left off before the recess, losing 14 cents per kilogram to see 1297c/kg clean.
The result may have been impacted by the fact the market was presented with the largest offering seen since January, with 52,182 bales offered and 7.6 per cent passed-in.
Merino fleeces struggled throughout, with losses of up to 36c/kg in the finer end of the sector.
Medium to broader types were not spared from the added pressure, with prices dropping by up to 22c/kg.
As was the case prior to the recess, there was still good buyer support for more stylish types with better figures.
Cardings were hit the hardest, shedding 32c/kg in the South to close at 1043c/kg.
Crossbreds fared better and although there were some slight dips, generally all types closed stronger for the week, with the 30 micron guide firming by 20c/kg.
Next week, the offering will reduce in size with an estimated 42,851 bales set to be offered to the market.