Weekly Market Report
Mark Dyson, Managing Director
Strong start to new year for wool
15 January 2016
Wool sales kicked off the year with a bang, with the Eastern Market Indicator (EMI) gaining 17 cents per kilogram to 1282c/kg clean.
It was also the largest offering seen in some eight months, as 53,626 bales went under the hammer with 4.3 per cent passed-in.
After a three-week recess over the festive season, Melbourne was the first of the sale centres to fire-up and limited availability of Merino fleece saw prices spike.
As the other centres opened on Wednesday the nd continued, with particularly strong interest in the 20-22 micron range.
The 21 micron price guide gained 35c/kg to close at 1386c/kg, while the 20 micron price guide surged by 34c/kg to 1388c/kg.
Merino skirtings also gathered ground, gaining 20c/kg and cardings in the south were up 14c/kg to 1136c/kg.
The crossbred fleece offering was at a 12 month high, which added pressure and saw some types lose up to 17c/kg, but there were also some small price increases of up to 5c/kg in the 32 micron price range.
Next week is also set to be a big one, with 60,000 bales forecast.