Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Strong correction after last week’s gains

The wool market made a strong correction this week after solid increases of the previous week, with the Eastern Market Indicator (EMI) finishing at 1572 cents per kilogram to drop by 42 cents clean.

The gains of last week were eroded as all Merino and crossbred categories were affected, with losses of 10-80 cents clean in the Merino wool types.

The fine to strong wools were hit hardest with the 18.5-21 micron range easing 60-75 cents clean, and the broader 22-23 micron range falling by 70-80 cents clean.

The 18 and finer micron wools were less affected, easing by 13-30 cents clean, while better style wools with low vegetable matter content along with good tensile strength wools above 40 Nkt attracted best trade competition.

Skirtings eased by 10-30 cents clean again, with the lower fault wools less than three per cent fault fairing best.

Crossbred wool types eased marginally, falling 6-13 cents clean with the better prepared lots receiving the best results, and the carding sector followed suit with locks and crutchings falling 10-30 cents clean for the week.

Next week sees all three selling centres back in action, with 44,750 bales to be offered nationally.