Weekly Market Report
Mark Dyson, Managing Director
EMI holds steady
28 October 2016
The Eastern Market Indicator (EMI) held strong this week, maintaining 1331 cents per kilogram clean.
The offering was considerably larger than the last sale and was the second largest in the season to date, with 44,891 bales offered to the market and five per cent passed-in.
A selection of wool from New Zealand kicked-off the sale week on Tuesday and was well received by the market.
It was a similar reaction for the Australian catalogue, with the better types generating some strong competition from buyers.
In the finer end, there were some minor changes, with the 17 micron price guide gaining 9c/kg to rest at 1652c/kg.
There were some price dips, generally all staying under the 10c/kg mark.
It was a similar story for medium to broader types, as the 20 micron price guide picked up 4c/kg to see 1455/kg, while the 21 micron guide shed 10c/kg to close at 1403c/kg.
Merino skirtings found good support in the finer end, reporting gains of up to 20c/kg, while cardings strengthened, by 17c/kg in the South.
Crossbreds had a tougher run, with losses across the board hovering around the 15-20c/kg mark.
Next week will see an even larger offering, with 49,359 bales expected to hit the market.