Weekly Market Report
Mark Dyson, Managing Director
More record territory for XB’s
10 May 2019
After two weeks of gains, our wool market wasn’t able to sustain its upward trend in week 45.
As the national offering reduced significantly from the previous week down to 32,801 bales (10,252 bales or 23.8 per cent less bales than Week 44), the Eastern Market Indicator (EMI) fell by 8 cents to finish at 1,952 cents per kilogram clean.
Despite the reduced quantity, buyer activity was cautious with many exporters adopting a “wait and see” approach, resulting in a continuously softening market.
By the end of the week prices had been generally reduced by 15 – 40 cents when compared to the previous week, while some off style and inferior types struggled for buyer attention and were up to 50 – 70 cents cheaper.
The crossbreds continue to be the strongest performing sector of the market, with strong buyer demand helping to defy the trend seen in the Merinos, pushing prices higher.
The 26.0 through to 28.0 micron range generally rose by 10 – 15 cents, with the better prepared lines enjoying the greatest gains.
The increases pushed the individual Micron Prices Guide (MPG) for 28.0 micron further into record territory in both Melbourne and Sydney.
The national wool offering increases slightly for the following sale, with there currently being 33,361 bales on offer in Sydney, Melbourne and Fremantle.