Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Wool market eases

The wool market eased this week, with the Eastern Market Indicator (EMI) shedding 26 cents per kilogram to close at 1234c/kg clean.

Although the Australian dollar did show some strength, gaining US1.89 against the greenback since the last sales, which saw an increase of 5c/kg to the EMI in US currency.

A total of 38,770 bales went under the hammer, but there was a surge in the number of bales passed-in, up by more than nine per cent to 14.6pc.

Most types lost ground this week, in the finer end of the catalogue the losses were up to 43c/kg in the 18.5 micron guide, which came to rest at 1400c/kg.

In the medium to broader type fleeces, prices eased by 35-43c/kg with the 23 micron guide closing at 1273c/kg.

Merino skirtings closed around 40c/kg less, while crossbreds were largely spared from the full impact of the price tumbles, with the 28 micron guide closing 25c/kg cheaper but the 26 micron guide remained steady at 1138c/kg.

Merino cardings bucked the trend and good support pushed prices up by 8c/kg to 1102c/kg.

Next week’s national catalogue will be an estimated 35,700 bales.