Weekly Market Report
Mark Dyson, Managing Director
Market head into recess on a high
12 July 2019
The second sale of the 2019/20 wool selling program, which was also the final sale before the annual mid-year three-week recess, has seen the market continue last week’s positive upward curve.
With buyers and exporters taking the final opportunity to secure wool and finalise shipping orders before August, the Eastern Market Indicator (EMI) increased by 31 cents to close the week at 1,754 cents per kilogram clean.
With 34,080 bales rostered for sale (a reduction of 22.9 per cent or 19,350 bales on the corresponding sale last year), positive buyer sentiment was again evident from the start of the sale.
Although the main buyer focus was on the better style lines and wools with favourable additional measurements, all types and descriptions recorded increases for the week.
These rises were reflected in the individual Micron Price Guides (MPGs), which generally gained 10 – 40 cents for the series, with the North and West enjoying the biggest lifts.
As mentioned earlier, the market now heads into a three-week recess, with sales to resume in the week beginning Monday, August 5th.