Weekly Market Report
Mark Dyson, Managing Director
Positive signs for wool market
8 February 2019
The Chinese New Year and Year of the Pig festivities brought positive signs to the wool market this week, with the Eastern Market Indicator (EMI) increasing by 10 cents to finish the week out at 1944 cents per kilogram.
The majority of rises in values were contained to the 19 – 23 micron Merino types and 25 – 30 micron crossbred types.
While the fine Merino micron types eased up to 20c/kg in Melbourne, the specialty Australian Superfine sale in Sydney attracted solid demand which resulted in most finer micron categories increasing 30 – 40c/kg from the northern selling centre.
This was also largely assisted by the Australian dollar which fell by nearly a cent over the week’s trading to finish at US 71 cents by the end of selling, with reports it may ease further by week’s end.
As with recent weeks, best and good top-making styles with solid strength attracted keen competition.
Skirtings maintained similar to slightly dearer values to last week as carding and oddment types eased up to 10c/kg for the week, with locks and crossbred lamb types mostly affected.
As expected, passed in rates once again fell to lower levels averaging near seven per cent of the offering.
Next week’s national offering reduces to 39,520 bales, with nearly 60 per cent being hosted by the Melbourne selling centre.