Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

EMI eases on increased volume

The last sale for the selling season saw an increase in the national offering to just under 37,000 bales, with the Eastern Market Indicator (EMI) easing by 26 cents to finish the week at 1507 cents per kilogram.

A slight increase in the Australian dollar to mid-76 US cents, along with increased volume, was sufficient enough to see a correction in the market against the rises of the past fortnight, with passed in rates increasing to average just over nine per cent.

All Merino micron categories came under pressure, as poorer style lots along with wools expressing high vegetable matter received the greatest discounts.

Falls of 33-76c/kg were seen for 17-22 micron wools, with the 18-20 micron range easing 51-76c/kg for the week.

Skirtings followed suit easing 30-40c/kg, with wools above five per cent fault mostly affected.

Crossbred types were irregular as better prepared lots faired best, the 26 micron range easing 33c/kg and the 30 micron range finding some trade support to lift 17c/kg.

Cardings wools also eased 10-20c/kg as low fault types were in limited supply.

Heading towards the mid-year sale recess, the new season opens next week with the national offering further increasing to an expected 51,718 bales, this being one of the largest sales for some months.