Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Market remains stable over Chinese New Year

The wool market remained relatively stable this week despite the Chinese New Year holiday break.

As the week progressed, the Australian dollar eased to US 78 cents which assisted the EMI to increase by 8 cents clean, finishing the week out at 1820c/kg.

The market opened on a solid note with most Merino micron categories recording 1-14 cents clean rises on the first days selling.

Further gains were received over the next two days trading as competition increased for the better measured wools, with the lower style fleece wools also gaining better interest by weeks end.

Rises of 20-55 cents clean were received for the 16.5-22 micron categories with the 20 micron types benefiting the greatest.

Skirtings eased by 40-50 cents clean with the finer micron and high vegetable matter types mostly affected.

The crossbred wool categories made modest gains for the week with the 26-30 micron categories increasing 2-7 cents clean, the better prepared lots receiving greatest buyer attention.

The carding wool sector lost ground on the previous week, with the Merino carding indicator falling by 28 cents clean, burry locks and crutchings mostly affected decreasing by 40-50 cents clean.

Next week’s national wool offering consists of 44,506 bales, a slight increase on this week’s selling.