Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Tough week for wool

It was another tough week for the wool market, with falls in all micron guides resulting in the Eastern Market Indicator (EMI) losing a further 41 cents per kilogram, settling at 1222c/kg clean.

Many growers were clearly not comfortable selling at the reduced prices, as 21.5 per cent of the 38,588 bales were passed-in.

The biggest tumbles were taken by the 22 micron fleeces, which dropped 80c/kg to 1269c/kg, while the 23 micron guide wasn’t not far behind and fell 79c/kg.

The remainder of the medium micron fleeces shed 51-73c/kg.

In the finer end of the catalogue, the losses were smaller, varying from 19-45c/kg with the latter being felt by the 19 micron guide which closed at 1353c/kg.

Merino skirtings were down 50 cents for the week, while cardings dropped by 8c/kg to 1067c/kg.

Crossbreds didn’t feel the brunt as badly, with reductions of 8-12c/kg.

Next week’s offering will be even larger, with 42,644 bales expected to go under the hammer.