Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

EMI falls by 27 cents

Further consolidation was seen on the opening of the wool market this week, as most wool categories retreated in value on the final quotes of the previous week.

The Eastern Market Indicator finished the week out at 1751 cents per kilogram clean, a fall of 27 cents for the week, with the Australian dollar trading at mid-to-high US 78 cents.

As with recent sales, the offering was irregular and consisted of an increased percentage of higher vegetable matter fault wools, low yielding and short of length fleece types.

Wools of low yield and high fault were particularly discounted, with the better style, well measured types attracting solid trade competition.

In general, the Merino fleece and skirting types eased in line with each other, with locks and crutchings expressing heavier burr content mostly affected in the carding sector easing 10-20 cents clean for the week.

The crossbred wool types eased in value on the first day’s selling but found some buyer support by sale end, finishing only marginally easier for the week.

Next week, the sale offering reduces to an expected 38,849 bales, with Melbourne hosting 57 per cent of this quantity.