Weekly Market Report
Mark Dyson, Managing Director
Strong start to new season
8 July 2016
It was cracking start to a new wool selling season this week, with the Eastern Market Indicator (EMI) notching up 23 cents per kilogram to see 1320c/kg clean.
The EMI also made strong gains in US terms, closing US28c/kg higher for the week despite the Australian dollar tracking higher.
The first sale of the 2016/17 season saw an offering of 39,152 bales, with only 3.8 per cent passed-in.
Buyers once again favoured the medium to broader microns, which resulted in gains of 35-49ckg, the latter being in the 21 micron guide which closed at 1493c/kg.
There were also some solid increases in the finer end of the catalogue, generally hovering around the 30-40c/kg range.
The result of those increases puts the entire fine micron fleece price range (16.5-19 micron) above the 1500c/kg mark.
Merino cardings picked-up slight gains for the week and it was a similar story for skirtings.
It was a less positive result for crossbreds, which slipped by 20-30c/kg for the sale.
Next week will see an expected 40,835 bales offered to the market.