Weekly Market Report
Mark Dyson, Managing Director
Wool market loses ground
26 May 2017
The wool market deteriorated this week on the back of a dearer Australian dollar trading at mid-75 US cents, with the Eastern Market Indicator (EMI) finishing at 1495c/kg, a fall of 27 cents clean.
Following last week’s trend all Merino wool types lost ground, with the fine wool categories reducing 50-94c/kg and the medium wool types easing by 18-68c/kg.
Skirting also fell by 20-30c/kg, with the higher vegetable matter types mostly affected. Crossbred wools traded similarly to last week, with the oddments marginally dearer.
Forward contract options for the spring eased after this week’s fall, with bidding now close to last year’s physical market for the same period.
Next week’s market consists of a lower offering of 30,152 bales, a decrease of some 7,000 on the week just past.