Weekly Market Report
Mark Dyson, Managing Director
Market bounces back on low offering
23 March 2018
A lower national wool bale offering of 38,849 bales and an Australian dollar which slipped to just under US 77 cents assisted the wool market in posting solid gains on opening this week.
The benchmark Eastern Market Indicator (EMI) increased by 27 cents clean for the week to finish at 1778 cents per kilogram clean, with the first day’s trading attracting solid bidding as all Merino and crossbred wool categories lifted by 10-50 cents clean across the board.
The better style wools with good measurement and low fault attracted keenest competition, with the lower yielding types and those lots exhibiting poorer traits also making small gains on the previous week.
On the firming of the Australian dollar, the final day’s selling saw consolidation in the market for the Merino types as the buyers returned to the trend of recent weeks.
Wools of poorer style, expressing low strength measurement and high mid-break came under pressure reducing by some 5-27 cents clean, the better measured wools holding firm.
The crossbred types continued to find good competition for the better prepared lots and overall lifted 10-32 cents clean for the week.
The carding sector increased 20-40 cents clean with the low fault locks and crutchings benefiting most, with high fault lots near unchanged over the two days of selling.
Next week’s national wool market offering increases back up to 47,091 bales, this being the last sale prior to heading into the annual Easter sale recess being the first week of April.