Weekly Market Report
Mark Dyson, Managing Director
EMI remains bouyant
17 February 2017
The market remained buoyant this week, as the Eastern Market Indicator (EMI) firmed by three cents per kilogram to rest at 1440c/kg clean.
In US terms, the EMI shot up by US16c/kg after the Australian dollar gained US.94 cents against the greenback.
The market saw an offering of 44,938 bales, with 7.6 per cent passed-in.
The finer end of the catalogue saw the most action, particularly the 18 micron price guide which gained 30c/kg to 1967c/kg.
Medium to broader types lost some ground, but the losses were generally kept under 13c/kg, which was the amount shed by the 20 micron guide.
Buyers once again showed a preference for the more stylish lots with high staple length, which these types commanding a premium.
Skirtings had a tougher run this week, falling by 10-20c/kg and again more demand for better quality types.
Cardings finished the week firmer, picking up 9c/kg in the South.
Crossbreds had another good sale, with some good gains for the broader types of 6-19c/kg.
Next week will see a larger offering again, with an estimated 46,922 bales set to be presented to the market.