Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Best post-recess opening for two years

The first week of selling after the traditional three-week, mid-year break saw the best post-recess opening for at least two years, with the Eastern Market Indicator (EMI) rising by 28 cents clean to finish at 1550 cents per kilogram.

A steady Australian dollar trading at mid-78 US cents, along with the trade looking to cover orders from over the break, resulted in the market opening positively.

Solid gains were received across all Merino and crossbred micron categories, with best price increases in the Merino 18-22 micron range which lifted as much as 49c/kg.

Demand was keen across all style types, with even some of the poorer lots benefiting as the trade looked to cover orders against expected lower bale volumes in the coming weeks.

The 28-30 micron range received best trade attention in the crossbred sector, increasing by 48 and 46c/kg respectively, with the trend continuing as better prepared lots attracted solid demand.

The oddment categories were the only downside for the week, as locks and crutchings eased by 20-40c/kg.

Wool sales continue operating next week across all three selling centres, with the national wool offering expected to decrease to approximately 38,534 bales.