Weekly Market Report
Mark Dyson, Managing Director
Consolidation after recent historic highs
24 March 2017
With an increase in quantity nationally to over 48,000 bales, the market took a breather this week from its recent upward trajectory and consolidated, with the Eastern Market Indicator finishing the week out at 1546 cents per kilogram (the same figure as the previous week).
Superfine wool in the 16-17 micron range had another stellar week rising 50-150c/kg, while the 17.5-19 micron ranges were firm with little change. There is very strong competition on current offerings with these types, and at present levels we have seen prices jump over 40 per cent since the Christmas break.
On the back of large offerings and poorer-styled wools with higher VM levels, mid-micron Merino’s between 20-22 microns fell somewhat, recording losses of 20-40c/kg on the week.
However XB wool had another solid week with a large offering seeing prices maintained, with some poorer types slightly cheaper.
Continuing the week’s theme of consolidation, the oddment sector remained steady with prices maintaining last week’s levels.
The recent historic high-level prices are continuing to flush out grower stocks, with 46,000 bales up for sale nationally next week.