Weekly Market Report
Mark Dyson, Managing Director
Mixed results for wool market
5 October 2018
Mixed results were delivered across the wool market this week, with the Eastern Market Indicator (EMI) easing a further 21c/kg clean on the previous week to finish at 1992 cents per kilogram clean.
The Australian dollar actually traded cheaper, reducing by 1.78 cents to fall below US 71 cents by week’s end.
The wool selection trended the seasonal conditions, with part-tender wools littering the catalogue offerings.
The finer Merino wool categories suffered the heavier losses as the trade became selective on type and measurement, with the 16.5 – 17.5 micron easing 54 – 92c/kg clean and the 18 micron categories easing up to 28c/kg clean.
The 19 – 22 micron categories were marginally softer against last week’s final quotes, reducing by only 3 – 7c/kg clean, with the broader 23 – 24 micron categories back by 20c/kg clean.
A similar trend occurred in the crossbred wool categories, as the finer 25 – 28 micron categories eased 30 – 35c/kg clean with the broader 30 micron values types near unchanged on last week.
Heavy fault wools in the skirtings and carding sector once again came under price pressure, easing 50 – 70c/kg and 40 – 50c/kg clean respectively.
The Merino Carding Indicator reduced by 49c/kg for the week to finish at 1438c/kg.
Despite the losses in market values over the past few weeks, the EMI is still some 442c/kg clean above levels of the same time last year, with most Merino fleece types still trading in the 90th percentile rankings for the five year period.
Next week’s national wool offering comprises of 34,467 bales with the Melbourne selling centre hosting 50 per cent of this quantity.