Weekly Market Report
Mark Dyson, Managing Director
Wool market continues easing trend
2 June 2017
The wool market continued its trend of the past few weeks with continuing falls in the fine to medium Merino wool categories, as the Eastern Market Indicator (EMI) eased 23 cents clean to finish at 1472 cents per kilogram.
The Australian dollar easing to under 74 US cents was not enough to hinder the decline, as wools containing high VM fault along with poorer-style wools dictated the lower volume on offer.
The 16.5-20 micron range eased up to 113c/kg with the finer wools mostly affected, while the 21-23 micron range remained firm to dearer on last week and tended to be in sellers favour.
Better-style types attracted solid demand while skirtings eased up to 30c/kg, with wools expressing higher than five per cent VM fault easing most.
On limited offering, finer crossbred types increased marginally with the 30 micron and broader types tending to be in buyers favour.
Oddments eased on the first day’s trade with locks and crutchings up to 20c/kg easier, before levelling out on the final day’s selling with the higher VM lots again affected.
Despite the decline in values of recent weeks, the Merino wool categories still remain well above last year’s levels, with the fine to medium wools trading in the 95 percentile or better over the past five-year period.
Next week’s national offering reduces to the lowest volume seen for some time (25,278 bales on offer), with no auction operating from the Fremantle selling centre.