Weekly Market Report
Mark Dyson, Managing Director
Strong finish for the wool market
16 December 2016
An offering of over 55,000 bales hit the wool market this week, but the Eastern Market Indicator (EMI) held firm and climbed by six cents per kilogram to finish the year at 1355c/kg clean.
The market was much less turbulent than recent sales have seen, with increases far more steady.
A total of 55,468 bales were offered to the market in the final sale for the year, with 9.3 per cent passed-in.
The finer end of the market gained as much as 15c/kg, but the 18.5 micron price guide bucked the trend and actually fell by 7c/kg.
In the medium to broader types, 15c/kg was also as high as things went, with both the 19.5 and 20 micron guides firming by that amount.
The skirting market remained unchanged from last week, while cardings slipped back slightly to close 4c/kg lower.
There was an abundance of Crossbred fleece as the largest offering in two years hit the market and the pressure mounted, but falls were kept under 20c/kg.
The market certainly finished on a high note, with the EMI closing the year at its highest level on record.
Sales will recommence on the week of January 9, 2017.