Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Less dramatic falls in Week 8

While the Australian wool market continued its decline this week, there were some signs of it finding a level with the losses not as extreme as the previous two sales.

While better style lots with good additional measurements recorded minimal change and non-mulesed wool maintained their healthy premiums (up to 200 cents clean for selected lots), it was the losses of 50 – 80 cents for the lesser style wools driving the fall in the Eastern Market Indicator (EMI).

The benchmark indicator lost 16 cents for the week, closing at 1,494 cents per kilogram clean.

Despite the further price reductions, there were more sellers willing to accept the current price levels resulting in the national passed in rate dropping to 16.1%, some 19.7% lower than the previous sale.

The crossbreds were the only sector to record increases for the week, with the MPGs for 26 – 28 micron generally rising by 25 – 40 cents and preventing the EMI from a larger fall.

After performing well over the previous month, the oddments suffered losses this week with all types and descriptions generally falling by 80 – 120 cents and pushing the two carding indicators down an average of 94 cents.