Weekly Market Report
Mark Dyson, Managing Director
Wool market bounces back
29 April 2016
The wool market recovered this week, as the Eastern Market Indicator (EMI) gained 24 cents per kilogram to see 1241c/kg clean.
The Australian dollar and exchange rate has caused some chaos over the last few sales, and this week that chaos was thankfully reflected in a more positive light.
The market saw an offering of 34,397 bales, with 5.6 per cent passed-in, which was down almost 10pc on last week’s rate.
Buyer sentiment generally remained strong throughout the week, with good gains throughout the catalogue varying between 17-51c/kg in Merino fleeces.
The 19 micron price guide lifted by 51c/kg to close at 1435c/kg, while 17 micron fleece types enjoyed a 31c/kg price rise to see 1522c/kg.
An increase in vegetable matter is becoming more apparent, which was reflected in the mixed result for Merino skirtings.
In the end Merino cardings did not see much movement, although in the south saw a loss of 1c/kg to close at 1045c/kg.
Crossbreds remained largely unchanged from last week, with some small losses and gains under the 10c/kg mark.
Next week will see an estimated 38,451 bales offered to the market.