Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Market sees further decline

The wool market saw a further decline this week, with the Eastern Market Indicator (EMI) closing six cents per kilogram lower at 1228c/kg clean.

The offering was quite modest, with 33,127 bales hitting the market across the three centres and 8.7 per cent passed-in.

Last week’s movement in US dollar terms was quick to turn-around this week, as the Australian dollar lost US1.89 against the greenback, equating to a 28c/kg loss to the EMI in US currency.

There were losses throughout the catalogue, although not as significant as those felt during last week’s sale, with some fleeces even gaining ground.

The finer fleeces generally closed slightly lower, shedding 1-6c/kg, with an exception in the 17 micron guide which gained 3c/kg to 1455c/kg.

The medium to broader types lost 9-11c/kg, with the 19.5 micron guide resting at 1301c/kg.

Skirtings followed suit and dropped 10c/kg, while cardings saw a slight loss to close at 1098c/kg.

Crossbreds faired pretty well, with the 26 micron fleeces increasing by 5c/kg to 1143c/kg as the remainder lost 8-9c/kg.

Next week will see a larger offering, with 41,240 bales set to hit the market.