Weekly Market Report
Mark Dyson, Managing Director
Crossbred rise continues
12 April 2019
The Australian wool market continued on its current trend in week 41, losing further ground as the influx of lower yielding/lesser style wools onto the market continued.
As a slightly smaller national offering of 37,527 bales was presented this week, the Eastern Market Indicator (EMI) lost seven cents by sale’s end to finish at 1,936 cents per kilogram clean.
Despite the long run of losses (seven consecutive weeks of losses for a total of 91 cents), the EMI is still 57 cents above where it was at the beginning of the year.
As has been the case for many weeks, crossbreds continued to defy the trend of the market by recording strong gains once again.
The 25 – 30 micron range generally rose by 20 to 30 cents, with the Micron Price Guide (MPG) for 28 micron reaching a new record in the South on the back of these rises.
The national wool offering increases by almost 5,000 bales for the upcoming M42 sale, with 42,487 bales slated to be on offer in Sydney, Melbourne and Fremantle.
Due to the Good Friday Public Holiday sales will be held on Tuesday and Wednesday.