Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Quiet market takes its toll

Wool buyers were reserved this week and it impacted the result, with the Eastern Market Indicator (EMI) closing 17 cents per kilogram lower to 1268c/kg.

While the offering was lower than first estimated, it was still one of the largest catalogues seen this season, with 47,000 bales offered to the market.

The quiet atmosphere saw an increased number of bales passed-in, at 12.3 per cent.

Both selling days saw prices take a tumble, although there were exceptions as buyers again sought better types, which was made clear particularly at Sydney’s designated superfine sale.

In the south, losses were up to 40c/kg in the 18 micron price guide but generally all sectors in the Merino offering were discounted.

Skirtings remained immune to the big falls, with only slight movement, and cardings were much the same and only dipped by 2c/kg in the south to rest at 1129c/kg.

Crossbreds followed suit for the most part, although the 25 micron price guide bucked the trend and gained 4c/kg.

Next week, an estimated 42,631 bales are forecast to hit the market.