Weekly Market Report
Mark Dyson, Managing Director
Impressive increase for EMI
3 November 2017
On the back of a steady Australian dollar trading at mid-76 US cents and a larger offering of just over 47,000 bales, the Eastern Market Indicator (EMI) surged an impressive 45 cents clean for the week to finish at 1623 cents per kilogram.
Day one of the three-day sale resulted in strong movements in the 19.5 Merino micron and finer wool range with rises of 20-59 cents clean, with the 20-23 micron range also increasing up to 23 cents clean.
Skirtings increased in line with the fleece types, with the lower vegetable matter types receiving the most benefit.
The crossbred sector found some trade support, with increases of 5-6 cents clean on the 26-28 micron range.
This continued throughout the next two days of selling with further gains across all micron categories and only the broader 30 micron plus range showing little movement against the previous week’s quotes.
The carding wool sector rallied again with gains of 40-50 cents clean with locks, crutchings and stains all in good demand.
All in all it was a solid performance across most wool types, resulting in passed in rates below three per cent for the week.
Next week’s national sale offering reduces to 42,722 bales, with over 50 per cent on offer from the Melbourne selling centre.