Weekly Market Report
Mark Dyson, Managing Director
Slight lift for wool market
19 August 2016
A smaller offering seemed to be better received by the wool market this week, as the Eastern Market Indicator (EMI) made a slight gain of one cent per kilogram to 1298c/kg clean.
A total of 41,153 bales were offered to the market, over 10,000 bales less than last week, with a passed-in rate of 4.8 per cent.
In US-terms, the EMI has now cracked the 1000c/kg mark and sits at 1001c/kg.
The market was slow to start the week, with initial falls of 10-15c/kg, but buyer sentiment seemed to lift and continued to trend that way over the second day.
The finer end of the offering saw some slight price increases which were generally kept under 10c/kg, while the medium micron range finished predominantly softer.
The 23 micron range was the exception, after gaining 2c/kg to close at 1429c/kg.
Crossbreds had a strong sale, with price spikes of up to 59c/kg in the broadest end of the catalogue.
Skirtings remained buoyant, while cardings made some progress, closing 3c/kg firmer in the South to rest at 1046c/kg.
Next week, the catalogue will be smaller again, with an estimated 31,563 bales set to be offered to the market.