Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

EMI firms amid smaller offering

The Eastern Market Indicator (EMI) rose by 11 cents per kilogram this week, closing at 1309c/kg clean.

The national offering was 29,543 bales with a passed-in rate of 3.5 per cent, with the offering significantly reduced from the previous week due to the fact Fremantle held no sale.

Sales were carried out on Tuesday/Wednesday to allow for “Wool Week” events held in Melbourne and despite a slow start, the demand for Merino fleece was strong.

The Australian dollar also lost ground against the greenback, which helped strengthen the market further.

In the finer end of the catalogue, gains generally varied from 5-16c/kg, with the 18 micron guide closing at 1529c/kg.

It was a similar tale for the medium to broader types, which picked up 10-18c/kg across the board.

Merino skirtings seemed to follow suit, also firming by 10-20c/kg, while cardings were mixed and actually closed 3c/kg lower in the South.

Crossbreds enjoyed the stronger market, picking up 4-17c/kg for the sale.

Next week will see all three centres back in action, taking the expected national offering to 42,108 bales.