Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

EMI gains further ground

The Eastern Market Indicator (EMI) gained further ground this week, as the wool market strengthened on the back of a weaker Australian dollar.

The EMI closed 19 cents per kilogram firmer to 1287c/kg clean, as the Australian dollar lost US1.59 cents over the sale duration.

A total of 37,066 bales were offered to the market with just over five per cent passed-in.

Low vegetable matter-types again took buyer precedence, although price increases were generally seen across all microns and ranged from 12-36c/kg.

In the South, the 18.5 micron guide gained 31c/kg to see 1511c/kg.

Medium to broader types also enjoyed the show, with the 19.5 guide firming by 22c/kg to close at 1467c/kg.

Skirtings were again in good demand, which pushed prices up by 30-40c/kg, while Merino cardings also generated attention and increased by 15c/kg in the South, to rest at 1072c/kg.

A small amount of 25 and 26 micron Crossbred fleece attracted strong buyer support, firming prices by 42c/kg and 28c/kg respectively.

Next week will see a larger offering, with 42,914 bales expected to hit the market.