Weekly Market Report
Mark Dyson, Managing Director
Wool prices consolidate
20 September 2019
After the roller coaster ride the Australian wool market has been on over the previous few weeks, industry members were no doubt hoping for a solid week in which prices were consolidated – and they got it.
With the Melbourne market rising rapidly above levels in other centres on the second selling day last week, losses were recorded on the first day this week bringing prices into line with Sydney and Fremantle.
Alternatively, the Sydney region didn’t sell on the final day of last week, meaning prices needed to rise to come into line with Melbourne and Fremantle, and they did so on the first day of selling by 35 – 55 cents.
With one centre up and the other down, the was a minimal change in the AWEX Eastern Market Indicator (EMI) of four cents on day one, while Micron Price Guides (MPGS) rose in all centres by 5 – 15 cents on day two, helping push the EMI up by 11 cents.
When it was all said and done, the EMI added seven cents for the series to close the week at 1,542 cents per kilogram clean, although when viewed in US dollar terms, currency movements meant the EMI fell by 9 US cents.
The skirting market attracted strong competition pushing prices up by 30 – 50 cents, making them the standout performer for the week.
The national quantity reduces slightly for next week, with there currently being 29,290 bales available to the trade with all three centres in operation.