Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Positive trend continues

A specialty offering of Tasmanian wool out of Melbourne and a steady Australian dollar trading at 71 US cents assisted the Eastern Market Indicator (EMI) in increasing this week by 24 cents clean to finish 1968 cents per kilogram.

All Merino and crossbred micron indicators showed solid gains of 10 – 40c/kg clean, continuing on the positive trend of recent weeks.

Skirtings followed a similar trend to the fleece types increasing 30 – 50c/kg clean, with the lighter fault, better style types commanding best values.

Once again better prepared wools in the crossbred catalogues attracted the eye of buyers, with the 28 – 30 micron types increasing 40 – 50c/kg respectively.

After a number of weeks in recession, the carding wool sector also returned to positive territory with most types increasing 15 – 20c/kg clean, resulting in the Merino Carding Indicator increasing 22c/kg clean to finish at 1136c/kg.

The positive results in wool sales this week were reflected with lower passed in rates, which fell to just over five per cent of the offering.

Next week sees the national wool offering increase to 42,469 bales, with the Melbourne selling centre playing host to an expected 24,453 bales of this total.