Weekly Market Report
Mark Dyson, Managing Director
Market returns to positive territory
18 April 2019
After an extended run of losses, the Australian wool market returned to positive territory again in week 42 as sellers took the final opportunity to offer their wool before the Easter recess.
With just over 42,000 bales offered, the Eastern Market Indicator (EMI) gained seven cents for the week to close at 1,943 cents per kilogram clean.
Taking into account currency movements, the EMI recorded a larger gain when viewed in US dollar terms, rising by 11 US cents for the week.
The main buyer focus was on the higher yielding wools, which generally sold at levels slightly above the previous sale, while lesser style wools were well supported but not to the same extent as the better types, pushing these down for the week.
The crossbreds have continued to go from strength-to-strength, with the main gains felt in the 26 – 28 micron range and the 28 micron MPG reaching a new record in both Eastern centres.
As previously mentioned there is no sale next week, with the recess to end on the week beginning Monday 29th of April.