Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Slight drop for EMI

The Australian dollar falling to its lowest level in two years of US71.5 cents wasn’t enough to stifle the wool market trending south this week, with the benchmark Eastern Market Indicator (EMI) softening by two cents clean to finish at 2088 cents per kilogram clean.

The first day’s selling saw the wool market resume its positive trend from the previous week, with gains of 5 – 30c/kg clean across most of the Merino micron types.

As the week progressed, the Australian dollar traded dearer and with this buyer support waned, with most Merino and crossbred micron categories losing the previous day’s gains.

By week’s end, losses of 20 – 30 c/kg clean were recorded for most micron categories with the finer Merino microns back 30 – 70 c/kg clean.

Poorer style wools expressing low yield and fleece types with high vegetable matter content once again found the going tougher, with best style types attracting keen competition.

Skirtings remained firm throughout the week, with solid support for the lower fault types.

Locks and crutchings fell marginally and on a limited offering, while good support was recieved for the Merino carding lambs.

Next week’s national offering reduces to 34,582 bales, with all three selling centres in action.