Weekly Market Report
Mark Dyson, Managing Director
Wool market strengthens
16 September 2016
The wool market strengthened this week aided by a weaker Australian dollar, as the Eastern Market Indicator (EMI) closed six cents per kilogram firmer at 1311c/kg clean.
A total of 37,436 bales were presented to the market, with 5.3 per cent passed-in.
While the EMI gained 6c/kg, the overall result was mixed as the finer fleeces found strong demand but the medium to broader types lost ground.
Gains in the finer types ranged from 10-25c/kg, with the 18.5 micron guide coming to close at 1534c/kg.
The medium to broader fleeces shed up to 25c/kg, seeing the 23 micron guide slip under 1400c/kg.
Merino skirtings found solid buyer interest, particularly the more stylish lots, which resulted in small increases.
Cardings saw some minor movements, closing 1c/kg down in the South at 1038c/kg.
Crossbreds had a strong sale, with increases across the board of 5-20c/kg, with the finer types seeing the biggest price spikes.
Next week, an estimated 41,893 bales will be offered to the market.