Weekly Market Report
Mark Dyson, Managing Director
EMI up seven cents
1 February 2019
The wool market held on well this week on the back of a lower national offering of 38,830 bales and an Australian dollar trading at 71 – 72 US cents.
By the end of the week, the Eastern Market Indicator (EMI) had increased by seven cents to finish at 1934 cents per kilogram clean.
The first day’s trade resulted in all Merino micron wool categories increasing by 5 – 45c/kg clean, with the 16 – 17 micron types receiving the largest gains.
A marginal rise in the Australian dollar on the second day of selling saw the Merino micron types lose some of their first day increases, though overall the market finished solid.
It was the crossbred wool types that stole the show this week though with the 30 micron and finer types increasing 45 – 107c/kg clean, and the broader than 30 micron increasing up to 25c/kg clean.
Once again, better measured wools attracted greatest trade attention with poorer style, dustier wools showing little change on the previous week’s quotes.
Skirtings sold at near the same levels of last week, with the oddments losing further ground falling 20 – 30c/kg clean.
Overall passed in rates fell in comparison to the previous week, averaging near seven per cent.
Next week’s national wool offering is an expected 40,426 bales, with Sydney being a designated Australian superfine sale.