Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

EMI at record levels

The past week was another terrific one for the wool market with all segments rising.

The Eastern Market Indicator increased by 51c to finish at 1500c, reaching a historic high and uncharted waters in Australian dollar terms.

The price for the 18.5 micron guide is also at record levels since 1995, increasing this week 55-95c/kg.

The XB market enjoyed another solid week, with the recent upward support continuing after the January lows. The week saw an increase of 20-30c/kg for the 25-30 micron price guides, with reduced supply for the XB segment supporting the price rally.

The carding/oddment segment continued to climb with increases of 20c/kg, with particular focus being around the 17-19.5 micron ranges.

Next week’s national wool offering will see 47,500 bales hit the market, an increase of 5,000 from the previous estimate, with the current market levels on offer seeing growers wisely choosing to cash in.