Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

EMI hits six-month low

Another tough week for the wool market has seen the Eastern Market Indicator (EMI) hit its lowest point in six months.

The EMI lost a further 24 cents per kilogram, closing at 1217c/kg.

A total of 42,082 bales were offered to the market with 15.2 per cent passed-in and 10pc of the catalogue withdrawn.

Last week’s downward spiral continued from the first day of selling, with falls across the board ranging from 8-39c/kg.

There were some slight increases around the five cent mark on Thursday, as a result of more demand for stylish types.

In the finer end, the 18 micron price guide finished up 17c/kg lower at 1437c/kg while in the broader fleeces, the 22 micron guide closed 36c/kg down at 1299c/kg.

Merino skirtings fell by 20c/kg but finished firmer, while cardings in the south dipped by 23c/kg to 1046c/kg.

Crossbreds also lost ground, with prices discounted by up to 16c/kg.

Next week will see an estimated 38,925 bales offered to the market.