Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Modest gain for wool market

The wool market saw a modest increase this week, with the Eastern Market Indicator (EMI) closing four cents per kilogram firmer at 1291c/kg clean.

The Australian dollar fell again, and that has had an influence on the market over the past few weeks.

An offering of 42,324 bales were offered with a passed-in rate of six per cent, just slightly up on last sale.

There was good demand across most of the micron range, but again more stylish types attracted more buyer competition, particularly those with low vegetable matter which have become rarer.

Some micron ranges did lose ground, particularly in the finer end in the South, where the 17.5 micron guide dipped by 8c/kg to 1549c/kg.

Things picked up somewhat for the broader types, although the gains were minimal compared to the previous two sales, mostly between 1-7c/kg.

Better quality Crossbred fleeces were in lower supply so buyer demand generated a price increase, surging the 25 micron guide by 24c/kg to 1188c/kg.

Merino cardings were well-supported and firmed by 16c/kg in the South.

Next week will see a smaller offering, with an estimated 29,940 bales expected to hit the market.