Weekly Market Report
Mark Dyson, Managing Director
Wool market finishes on a high
14 December 2018
The final wool market for 2018 prior to the Christmas recess attracted one of the largest wool offerings seen for months (46,000 bales), resulting in a three-day sale this week.
The Australian dollar weakened on the opening of sales to trade below US 72 cents, assisting the export trade with purchases and creating confidence in the marketplace from the outset.
By week’s end, the Eastern Market Indicator (EMI) had increased by 13 cents to finish at 1862 cents per kilogram clean, finishing 2018 102c/kg clean above the level of this time last year.
All Merino micron categories showed a slight increase in values from the start of sales, with crossbred types initially easing across the board and carding wool categories decreasing marginally in values.
The market tone followed the seasonal trend with higher yielding/better measured types receiving keen buyer competition leaving the trade to fit drought affected/poorer measured types into overseas orders as best possible.
As selling progressed, further gains were seen across the Merino categories with crossbred types recouping their earlier sale losses.
Skirtings tendered to follow the fleece wool market, with lower fault types below five per cent VM increasing in value for the week with higher fault, lower yielding types back 20 – 30c/kg clean.
By the finish Merino micron categories had lifted 15 – 61c/kg for the week, with the highest increases in the 19 micron and finer types.
The Merino carding wool indicator eased 36c/kg to finish at 1138c/kg clean for the week, an overall decline of 360c/kg clean on 12 months ago.
Auctions sales are now in recess for the next three weeks, to recommence on the week of the 7th of January, 2019.
The staff at Quality Wool would like to wish everyone a very Merry Christmas, a happy New Year and a safe and enjoyable festive season overall.