Weekly Market Report
Mark Dyson, Managing Director
EMI reaches new heights
20 January 2017
The Eastern Market Indicator (EMI) hit a new high point this week, rising to a new record high of 1439 cents per kilogram clean before it dipped slightly to finish the week at 1434c/kg clean.
It was another strong start to the selling week, with 56,077 bales offered to the market but an increased amount passed-in, at 10.4 per cent.
In total the EMI climbed 12 cents and the finer types again strengthened, on the back of a stellar result from the last sale.
The 16.5 micron price guide shot up by 102c/kg, pushing the price to 2015c/kg, while the rest of the finer microns rose by 30-80c/kg.
Broader types did not fare so well and lost ground, although the decreases were kept below 10c/kg.
Skirtings tracked a similar path to the fleeces, with good support for the finer types and less action for broader types.
Cardings climbed by 8c/kg to close at 1171c/kg in the South.
Crossbreds had another tough run, particularly in the broader end of the spectrum which slipped by 38c/kg.
Next week will see a smaller offering, with an estimated 47,159 bales set to hit the market.