Weekly Market Report
Mark Dyson, Managing Director
Bumper week for wool market
18 August 2017
What a week on the Australian wool market!
On the back of a reduced offering and a steady Australian dollar trading at 79 US cents, the Eastern Market Indicator (EMI) finished at 1614 cents per kilogram clean, an impressive increase of 64 cents on the previous week.
As to be expected, passed in rates were at some of the lowest levels recorded for some time, ranging from 1.5-2.4 per cent as growers took advantage of the good values on offer.
The first day’s trading saw the EMI increase by a massive 46 cents clean, the largest single day rise for two years.
All Merino and crossbred types received the benefit, with the strongest gains seen in the 17-23 micron range which increased between 50-74 cents clean.
Fine crossbred wool types faired best increasing by as much as 25-38 cents clean, with the broader 30 micron ranges lifting 10-18 cents clean.
Merino skirtings found similar trade support, lifting as much as 50 cents clean, while oddments remained steady on last week’s quotes and were marginally in buyers favour.
The trend continued on the final day’s trade with further gains across all micron categories, lifting 10-49 cents clean with the better style fine Merino micron types and well prepared crossbred categories fairing best.
Next week’s national offering continues from the two eastern state selling centres, with 36,888 bales to be sold.