Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

EMI finally falls after recent boom

The wool market made a solid correction across all types this week bringing an end to the strong increases of recent months, with the Eastern Market Indicator decreasing by 44 cents to finish the week out at 1502 cents per kilogram.

Despite the easing in the market, Merino wool values are still in the high percentile ranges for the past five years.

The fine to medium Merino wool types were hit hardest with the 18-22 micron range retreating 60-72c/kg, while superfine and ultrafine wools were also affected, falling up to 50c/kg.

XB wools were not removed from the fall in market conditions either, with the 26-28 micron range easing 16-20c/kg and the broader 30 micron types reducing up to 40c/kg. Skirtings eased up to 40c/kg for the week, the broader and high VM types being mostly affected.

Oddment types were less affected, with locks and crutchings decreasing 10-20c/kg when compared to last week’s final quotes. Passed in rates were some of the highest recorded for months, averaging 16.4 per cent nationally.

Next week’s national wool offering consists of 49,389 bales on offer, an increase of over 3,000 on the previous estimate.