Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Market slide continues

Our wool market was unable to halt its continued slide this week, as the amount of lower yielding wools continued to rise contributing to the downward pressure on the market.

The Eastern Market Indicator (EMI) fell by 4 cents for the week to finish at 1,943 cents per kilogram clean, meaning the EMI has now fallen for six consecutive weeks (the longest downward run since September 2012 when the EMI lost 150 cents, or 19.3 per cent).

Higher yielding/good style wools continue to be highly sought after, however there is not enough of these wools to prevent overall reductions in the individual Micron Price Guides (MPGs) which generally fell by 10 to 20 cents.

By contrast, the crossbred sector has continued to defy the trend of the Merinos, recording increases for the third week in a row.

Strong demand helped to push prices higher, generally between 10 – 25 cents.

It was the increases in the crossbreds which prevented the EMI from suffering a larger fall than it did.

Next week’s sale presents a slightly larger national wool offering, with there currently being 38,712 bales rostered for sale in Sydney, Melbourne and Fremantle.