Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Market bounces back

The market rallied this week after five weeks of consecutive falls, with the Eastern Market Indicator (EMI) up by 36 cents per kilogram to close at 1205c/kg clean.

The national offering of 39, 554 bales saw only 4.7 per cent passed-in, which was well below the rate seen in previous weeks.

Most types saw an increase of at least 20c/kg, while others were up by as much as 57c/kg in the medium microns.

The finer fleeces had a solid run and found good support, with the 19 micron guide gaining 55c/kg to rest at 1338c/kg.

It was a similar story for the medium types, seeing increases of 35-57c/kg with the biggest gain for the 21 micron guide, which closed at 1270c/kg.

Skirtings followed suit, peaking by an average of 20c/kg higher, although some lots did see larger rises of 40-50c/kg.

Crossbreds also had a strong sale and while the gains weren’t as significant, they were still solid with most around 20c/kg better-off.

Cardings came to rest 15c/kg higher, at 1061c/kg.

Next week will see a larger offering hit the market, with 44,508 bales expected to go under the hammer.