Weekly Market Report
Mark Dyson, Managing Director
EMI hits five-year high
2 December 2016
The wool market had another good run this week, as the Eastern Market Indicator (EMI) climbed a further 15 cents per kilogram to reach a five-year high of 1378c/kg clean.
It was another large catalogue, with 49,145 bales on offer and 6.2 per cent passed in.
The finer end of the offering received the most attention from buyers, which in turn saw prices strengthen by up to 60c/kg.
The 17 micron price guide firmed by 59c/kg to see 1778c/kg.
Things tapered off somewhat in the medium to broader range, where the gains were more modest under 20c/kg and the 22 micron guide actually slipped by 3c/kg.
Skirtings tread a similar path and gains varied from 10-40c/kg, while cardings closed slightly higher in the South at 1151c/kg.
Crossbreds had some price spikes of 10c/kg toward the broader end, while a small loss of 4c/kg was recorded in the 26 micron guide.
Next week will be the second last sale before the annual Christmas recess, with an anticipated 55,057 bales to be offered to the market.