Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

EMI finds new ground again

An easing in the Australian dollar to trade at mid-77 US cents assisted the wool market to open on a solid note this week, and by week’s end the Eastern Market Indicator (EMI) once again found new ground, increasing by 10 cents clean to finish at 1830 cents per kilogram clean.

On an expected national offering of more than 44,000 bales, Melbourne’s wool market showed good gains across all Merino micron categories on the first day’s trading.

The 18-22 micron types found the greatest demand increasing 11-46 cents clean, with only the 26 micron category in the crossbred types rallying to lift by 25 cents clean, the broader types marginally easier.

The second day’s selling resulted in some market consolidation, with the trade once again becoming selective on type.

As has been the trend of recent weeks, buyers tended to concentrate on the better measured wools, with the poorer style and high vegetable types being in less demand causing the 18-20 micron categories to retreat by 9-23 cents clean.

Skirtings finished the week out slightly irregular again, with the better-style, low-fault types finding best demand.

Cardings eased marginally by 5-10 cents clean, with bury locks and crutchings mostly affected.

Lambswool values maintained last week’s levels, with the combing types dearer for the lighter fault types.

Next week sees a slight increase in the national offering to 46,490 bales, with the Melbourne selling centre playing host to 29,297 bales (63 per cent).