Weekly Market Report
Mark Dyson, Managing Director
Wool market under pressure
4 November 2016
The wool market came under pressure this week, as a larger offering saw the Eastern Market Indicator (EMI) falling by 28 cents per kilogram to 1303c/kg clean.
A total of 47,220 bales were offered to the market in what was the second largest offering of the season so far, with a passed-in rate of 12.5 per cent.
Buyers were able to be more selective, showing clear preference for more stylish lots which curbed the losses for those types.
In the finer fleeces, losses were around 20-35c/kg, although the 18.5 micron guide was less at 14c/kg to close at 1584c/kg.
Medium to broader types tread a similar path, paring back by as much as 40c/kg in the 21 micron guide which came to rest at 1363c/kg.
Crossbreds followed suit, although the losses kicked up a notch in the finer end, with the 26 micron guide falling by 59c/kg.
Skirtings generally eased by 30-40c/kg, while cardings were a lot more stable in comparison and were cheaper by 9c/kg in the South.
Next week will see another large offering hit the market, with 51,109 bales expected nationally.