Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Wool market gains pace

The wool market rallied this week, after two consecutive tough weeks the Eastern Market Indicator (EMI) gained 19 cents per kilogram to close at 1284c/kg clean.

A reduction in volume helped the result, as 37,844 bales were offered to the market with a passed-in rate of 6.8 per cent.

Merino fleece was the main motivator for the strong result, with some fairly decent increases throughout the fine and medium micron ranges.

Better types were again highly sought after, and a designated Tasmanian sale on Tuesday offered a prime selection.

In the south, finer Merino fleeces gained up to 34c/kg, applicable to both the 16.5 and 19 micron guide.

The medium types weren’t far behind, picking up 28-33c/kg across the sector.

Skirtings also saw a strong week, which translated to increases of up to 30c/kg, while cardings went the opposite way and fell a further 14c/kg to 1113c/kg in the south.

It was a mixed sale result for crossbred fleece, with a surge of up to 11c/kg for the 28 micron range countered with losses of 3-5c/kg for the remainder.

Next week will see an estimated 42,000 bales go under the hammer.