Weekly Market Report
Mark Dyson, Managing Director
Market hits back with 10c jump
15 June 2018
A fall in the Australian Dollar to under 76 US cents and a lower national offering of 28,029 bales assisted the wool market to return to positive territory this week, with the Eastern Market Indicator increasing by 10 cents clean to 2021 cents per kilogram.
The recent trend continued on the first day’s trade, with the Merino finer micron types coming under pressure easing 5-22 cents clean and the 19-23 micron categories also trading solidly, increasing 15-28 cents clean.
Day two of selling saw the 18.5 micron types recoup the loses of the previous day, with further gains of 5-23 cents clean for the medium to broader Merino micron categories.
Initially fine wool skirtings eased in line with the fleece categories along with the higher VM content lots, but some support was found on the second day’s trade with values returning to near those quoted the previous week.
The finer 24-26 micron crossbred fleece types lifted up to 20 cents clean, with the 28-32 micron categories seeing little change for the week and finishing marginally in sellers favour by week’s end.
The limited supply of carding wool types resulted in gains of 10-20 cents clean for locks and crutchings with lower fault types attracting best competition.
It’s interesting that presently the gap between the 19 and 23 micron indicators is now only 42 cents clean, with the 19-21 micron types attracting near similar values on a clean c/kg basis.
Next week sees no sale from the Fremantle selling centre, with an expected national offering of 21,326 bales to be hosted by the eastern states exchanges.