Weekly Market Report
Mark Dyson, Managing Director
Wool market returns from Easter recess
28 April 2017
On the back of a larger wool offering of over 50,000 bales, the market consolidated this week against pre-Easter values.
The Eastern Market Indicator (EMI) lost ground to the tune of 11 cents per kilogram for the week closing at 1501c/kg clean, which in turn was not a bad result considering the higher offering and selection available
Despite the Australian dollar holding reasonably steady at mid-75 US cents, all fine to medium Merino micron categories eased on the first day’s trading.
The 20-23 micron guides were most affected, falling 19-29c/kg with the superfine types falling up to 14c/kg.
An increased percentage of wools expressing high VM fault were hardest hit, along with wools being poorer style or off in type, attracting larger discounting.
The second day’s trade saw some buyer confidence return to the market with increases of 2-10c/kg for most Merino categories, with best style types above 40 n/kt receiving most benefit.
Little change in values was seen in the XB sector, with marginal losses in the finer micron types when compared to pre-sale recess levels.
Skirtings followed a similar trend to fleece categories, with high VM types attracting less trade attention and falling up to 10-15c/kg.
Locks, crutchings and stains sold at similar levels to a fortnight ago, with low VM types trending 10c/kg dearer by weeks end.
Next week’s sales consists of 40,785 bales, of which 22,356 (55%) will be on offer from the Melbourne selling centre.