Weekly Market Report
Mark Dyson, Managing Director
Market holds on before Easter recess
29 March 2018
Heading into the annual Easter recess, the wool market held on reasonably well this week despite an increase of 8,000 bales on the National offering to just over 47,000 bales.
On a slightly irregular week of trading, the Eastern Market Indicator (EMI) finished at 1772 cents per kilogram clean, easing six cents.
The Australian dollar traded at mid-77 US cents and did not move too far from that point over the two days of selling.
The opening day’s trade resulted in some suppression in the fine wool values of 11-16 cents clean, with the 19-23 Merino micron types firm to 12 cents clean dearer.
The crossbred wool categories continued to find demand from last week, lifting 5-15 cents with the finer types attracting the best increases.
The second day’s selling saw the Merino fine wool types reverse the losses from the previous day, although the 18.5-20 micron types did ease some 9-19 cents clean.
The finer 26-28 micron crossbred types posted further gains of 5-17 cents clean on the previous day and as of recent times, stronger support was found for the well skirted, better prepared lots.
Across the board a lower offering of best style, high yielding wools saw these types attract solid demand and generally the losses in values were hardest felt for the lesser style, poor measuring lots.
The low fault skirtings and carding wool types remained relatively buoyant and increased 10-20 cents clean, with the heavier vegetable matter types being discounted by 10-15 cents clean.
The lambswool types continued to be well supported with the finer micron, lower fault types finding solid demand.
There will be no auction wool sales next week as the industry breaks for the annual Easter recess, with sales resuming the week commencing the 9th of April with an expected increased offering of just under 49,000 bales.