Weekly Market Report
Mark Dyson, Managing Director
Market down for third week
15 March 2019
On the back of a reduced national offering of 40,785 bales, the wool market continued to track downwards this week for a third consecutive sale.
This week’s market followed a very similar pattern to the previous sales with a diminishing supply of better style wools, in particular those possessing favourable additional measurement results, attracting excellent support and closing only 15 – 20 cents below the levels of last week.
However, there was again an ever-increasing supply of lower style/lower yielding types, which saw buyers continually reduce their basis on these lower yielding wools resulting in them finishing generally 30 – 50 cents cheaper.
Crossbreds also lost ground, with the 26 – 30 micron types generally 25 – 40 cents easier by sale’s end.
On the back of these falls the AWEX Eastern Market Indicator (EMI) lost 29 cents, falling back below the 2,000-cent threshold, closing the week at 1,979 cents.
The lower price levels were met with firm seller resistance, this resulted in a passed in rate of 12.6%, the highest figure since November.
Next week sees the national offering increase, with 44,137 bales on offer from the Melbourne, Sydney, and Fremantle selling centres.