Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Another strong week for wool market

The wool market had another strong result this week, as the Eastern Market Indicator (EMI) gained a further 14 cents per kilogram to rest at 1296c/kg clean.

The market was presented with its largest offering since late 2010, with 59,775 bales going under the hammer and only 3.7 per cent passed-in.

After a mixed start in the South on Tuesday, once all three centres fired up on Wednesday, the signals were a lot clearer.

Merino fleeces saw some solid gains across the board, with the finer end of the catalogue seeing the most movement.

The 16.5 micron price guide closed 26c/kg firmer at 1564c/kg, while the 18.5 micron price guide jumped by 29c/kg to 1500c/kg.

Medium to broader types picked up 5-14c/kg, with the latter being in the 20 micron range which closed at 1402c/kg.

This week saw another large offering of crossbred fleece, which came with a mixed result in peaks of up to 13c/kg and troughs of 12c/kg.

Skirtings found strong support and remained fully firm, while Merino cardings increased by 20c/kg in the South to 1156c/kg.

Next week will see an estimated 46, 051 bales offered to the market.