Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Wool market feels pressure

The strengthening Australian dollar once again applied pressure to the wool market this week, resulting in falls across the board.

The Eastern Market Indicator (EMI) closed the week 35 cents per kilogram lower, at 1223c/kg clean.

Nationally, the market saw 39,082 bales offered and 13.5 per cent were passed-in, an increase of 6.5 per cent.

The impact of the Australian dollar gaining more than US1.8C for the week equated to falls of 29-50c/kg across all microns in the Merino sector.

While buyers again showed favour to better types, this week that simply translated to a lesser discount for those styles.

Finer Merino types fell by 46c/kg in the south, with the 17 micron guide closing at 1484c/kg.

Medium to broader types lost 32-50c/kg, with the latter being in the 22 micron sector which came to rest at 1304c/kg.

Merino skirtings continued the trend, shedding 30-50c/kg but crossbreds managed to pump the brakes, with minor falls` of 2-19c/kg.

Cardings finished the sale 29c/kg down in the south, at 1093c/kg.

Next week, an estimated 41,871 bales will go under the hammer.