Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Wool market holds firm

The wool market held reasonably well this week, with the Eastern Market Indicator increasing by six cents to finish at 2094 cents per kilogram clean

The Australian dollar fell early in the week to US 71 cents, before increasing as it went on to US 71.8 cents.

This assisted exporter purchases, with the first day’s trade resulting in increased values across all Merino micron categories of some 5 – 56 c/kg clean, the finer micron categories attracting the most benefit.

As the week progressed, medium micron wool types came under pressure losing the first day’s gains, with the Merino fine wool types continuing to receive good trade support adding a further 17 – 22c/kg clean in value on the previous day.

The crossbred wool types saw little change on the previous market, with better prepared lots marginally dearer for the week.

On a limited offering, oddments reduced marginally to finish 5 – 15 c/kg cheaper, which was reflected on the Merino Carding Indicator which fell 13c/kg to 1575c/kg clean.

Overall, the wool market is still offering tremendous value with grower passed in rates below three per cent for the week.

Next week’s national wool offering increases marginally to 36,561 bales, with the Melbourne selling centre playing host to over 60 per cent of this total.