Weekly Market Report
Mark Dyson, Managing Director
Strong start to year for wool
13 January 2017
The first sale of the year was a cracker, seeing a 67 cent rise in the Eastern Market Indicator (EMI) which came to rest at 1422c/kg clean.
A large offering was put to the market after the annual three week break, with 51,379 bales offered and five per cent passed-in.
The mood was festive from the outset, pulling up somewhat on the last day but increases in the finer end of the catalogue were mostly all above the 100c/kg mark.
The 17 micron price guide rose by 146c/kg, pushing the price to 1899c/kg, while the 16.5 micron guide went further to see 1913c/kg.
Medium types also strengthened considerably, with gains of between 60-100c/kg.
Skirtings enjoyed the action and firmed by 50-100c/kg, while cardings in the South picked up 29c/kg and pushed into record territory.
Unfortunately the demand didn’t extend over to the crossbred market, which struggled in comparison, especially in the broader types which lost up to 37c/kg.
Next week will see an even larger offering, with 55,394 bales expected to be offered to the market.