Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Little market movement

The wool market held reasonably firm this week, despite the Australian dollar increasing to trade above 73 US cents.

This resulted in the Eastern Market Indicator (EMI) showing little movement, increasing by two cents to settle at 1860 cents per kilogram clean by week’s end.

The largest movements in the market this week were mainly contained to the finer 25 – 28 micron crossbred wool types which increased 70 – 100c/kg clean, with the 29 micron and broader types increasing 10 – 15c/kg clean.

The Merino wool types traded somewhat irregularly with the higher-yielding, better-measuring types being well sought after, and showed little movement to last week’s gains.

Poorer style and lesser measured wools trended cheaper with the 15 – 25c/kg clean decline in values in line to some extent to the appreciation of the Australian dollar.

Inferior style wools came under pressure, which resulted in these types being further discounted against the better style types.

Lower fault skirtings showed little change on last week’s increases, with the higher than five per cent vegetable matter types easing 10 – 20c/kg clean.

Overall, the carding wool sector maintained the values of last week with locks, crutchings and stains all holding reasonably firm.

Heading into the final two weeks of auction sales prior to the Christmas recess, next week’s national wool offering consists of 39,510 bales with the Melbourne selling centre to play host to 20,672 of those.