Weekly Market Report
Mark Dyson, Managing Director
Market shows strength as EMI jumps again
23 November 2018
Following on from a stabilised market last week, the wool market showed continued strength this week with the Eastern Market Indicator (EMI) increasing 77 cents to finish at 1858 cents per kilogram clean.
The Australian dollar traded with little movement from last week at US72.52 cents and with this, the 21 micron indicator tracked back above the US 1550c/kg clean mark to finish at US 1565c/kg clean.
Trade competition was strong from the outset of selling, with increases right across Merino and crossbred wool categories.
Strongest gains of 60 – 115c/kg clean were seen for the 18 – 23 micron types, with the finer 16 – 17 micron types also increasing 30 – 45c/kg clean for the week.
The finer 24 – 25 micron crossbred types lifted 100 – 120c/kg clean, with the 26 – 28 micron types up to 100c/kg dearer and the broader 30 – 32 micron categories lifting a further 15 – 50c/kg clean.
Skirtings increased in value by up to 40 – 80c/kg clean, with the lower fault types receiving the bulk of these gains.
Demand for carding wool types continued last week’s trend with solid demand across lambs, locks, crutchings and stains resulting in the Merino carding indicator increasing a further 69c/kg to 1183c/kg clean, an increase of 138c/kg over the past fortnight of trade.
An expected national wool offering of 36,447 bales is to be available next week, with Melbourne hosting 19,441 bales or 53 per cent of this total.