Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Market seesaws as prices ease over three-day sale

The wool market opened up with irregular tones this week against the solid gains recorded the previous week. The EMI decreasing by 6 cents to finish at 1812 c/kg clean.

The Australian dollar trading at mid US 78 cents and the Melbourne sale incorporating the Tasmanian feature sale of super fine wools, initially saw the finer wool Merino types increase 15-20 cents clean, with the 18.5-20 micron losing up to 26 cents clean.

As sales progressed throughout the week, an easing trend developed for the fine-medium Merino fleece types with further losses as buyers became more selective, concentrating on the better measured wool types of good style and CVH.

The broader Merino micron and crossbred categories fared better and tendered to trend in sellers favour and finished in positive territory increasing by 10-17 cents clean by weeks end.

Fine skirtings and those expressing low vegetable fault below 3 percent increased by 10-15 cents clean, with the carbonising heavier fault types easing by 10-15 cents clean.

Carding wools maintained last week’s momentum and lifted marginally by 10-25 cents clean with stains unchanged and fine wool lamb types in good demand.

Next week we see a national wool offering of 41,815 bales as the Chinese look to celebrate the Lunar New Year.