Weekly Market Report
Mark Dyson, Managing Director
EMI Loses Ground
7 June 2019
After recording healthy gains during the previous week, the Australian wool market could not maintain the upward trajectory, recording losses in Week 49.
With only Sydney and Melbourne in operation and a national offering of just 21,787 bales, the lowest weekly quantity since June 2018, the Eastern Market Indicator (EMI) lost 23 cents for the series to close the week at 1,864 cents per kilogram clean.
While the limited number of good style wools with favourable additional measurements were highly sought after and recorded minimal changes, lesser style lots and those carrying poor additional measurements generally lost ground to the tune of 30 – 50 cents.
The crossbred sector also tracked downward but not as steeply as the Merinos, with prices generally falling by 5 – 10 cents.
30.0 micron however managed a small increase for the week, the only quoted MPG to record positive movement for the series.
Sales resume in Fremantle next week after a one-week recess, helping to push the national quantity up to 29,989 bales, with selling in all three centres.