Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Another all-time high for EMI

With 44,000 bales up for sale nationally, the past week saw the Eastern Market Indicator (EMI) follow recent trends to climb to yet another all-time high, finishing at 1546 cents per kilogram.

The current strength of the EMI is best demonstrated by the comparison with this time last year, with prices increasing by 26 per cent since mid-March 2016.

Superfine wool in the 16.5-19 micron range also attracted strong buyer support, enjoying healthy increases of 60-90c/kg for the week.

Supplies of good quality fine wool remain under pressure, resulting in prices trending in an upward direction.

Mid-micron Merino’s in the 20-22 micron range remained fully firm, while XB wool continued to perform solidly with the 25-26 micron range climbing 10-20c/kg.

Next week’s national wool offering will see 51,000 bales hit the market, an increase of 7,000 from the previous estimate.

As in previous weeks, growers are wisely choosing to cash in with the current market levels on offer.