Weekly Market Report
Mark Dyson, Managing Director
Roller coaster week for wool
27 October 2017
On a roller coaster week, the wool market opened on a softer note across all Merino and crossbred wool categories with the Eastern Market Indicator finally found ground at 1578 cents per kilogram, an increase of 10 cents clean.
Day one of selling saw the poorer types under attack from the outset with tender/high mid-break wools in the Merino sector being heavily penalised, resulting in the individual micron categories easing 15-20 cents clean.
Poorly prepared crossbred fleece types saw the 26-28 micron range reduce by a further 40 cents clean on last week, with the broader 30 micron range being marginally cheaper.
An easing Australian dollar on the second day’s selling (trading at mid-77 US cents) assisted the market to make a quick recovery, as the Merino micron types increased by 5-49 cents clean.
The crossbred wool types finished the day out marginally in the sellers favour, but couldn’t make up ground on the first day’s reductions and were cheaper again for the week overall.
The carding wool sector continued to be well supported with lambs, locks, crutchings and stains increasing by a further 20-35 cents clean.
Next week’s national wool offering increases to 47,266 bales, with Melbourne hosting a three-day sale.