Weekly Market Report
Mark Dyson, Managing Director
Wool market strengthens
18 November 2016
THE Eastern Market Indicator (EMI) surged this week, after a tough couple of weeks the market climbed by 24 cents per kilogram, with the EMI closing at 1314c/kg clean.
The pressure of another large offering did not impact the market as it has done in recent weeks, with 47,190 bales presented and 5.8 per cent passed-in.
Merino fleeces strengthened considerably, with gains of up to 40c/kg in the finer end of the market.
The 19 micron guide closed at 1569c/kg, while the 19.5 micron guide picked up 47c/kg to see 1516c/kg.
For the remainder of medium to broader types, the increases ranged from 5- 35c/kg.
Skirtings followed the trend and firmed by 30-50c/kg, while cardings also rose, by 17c/kg in the South.
It wasn’t all sunshine for the crossbreds unfortunately, though there were some minor gains of under 10c/kg, there were some large losses of up to 48c/kg in the finer range.
Next week will see an even larger offering, with 49,282 bales expected to hit the market.