Weekly Market Report
Mark Dyson, Managing Director
Merino fleece bounces back
12 April 2017
With 46,000 bales on the market nationally, Merino fleece bounced back strongly after last week’s downturn on the back of new business being written late last week and a lower AUD FX rate.
The Eastern Market Indicator finished at 1512 cents per kilogram, a rise of 53 cents on last week, with the 16.5-18.5 micron ranges enjoying rises between 30-100c/kg, and the 19-22 micron range gaining 100-120c/kg.
There was very strong competition among all the fleece offerings, with poorer quality wool lifting strongly and consolidating at higher levels after some large falls last week.
XB wool had another solid week with a large offering, with prices generally being 10-20c/kg dearer, while the oddment sector was more subdued with prices maintaining last week’s levels or increasing slightly.
The historic high-level prices are continuing to flush out grower stocks, with no selling next week for Easter before returning to a national offering of some 50,000 bales in week 43.