Weekly Market Report
Mark Dyson, Managing Director
Market Falls in Season’s Final Sale
28 June 2019
The final sale of the 2018/19 Australian wool market saw prices pushed lower for the fourth consecutive week on a national offering of 29,167 bales.
The AWEX Eastern Market Indicator (EMI) fell by 51 cents to finish the season at 1,715 cents per kilogram, representing a total loss of 172 cents over the month of June.
The market opened softer and then continued to drop as the week progressed, with better-style, well-measured wools generally 70 – 100 cents easier.
The lesser style wools and those with poor additional measurement results were even harder hit, up to 150 cents cheaper, as buyers looked for value in the continually falling market.
The skirtings also dropped sharply, generally 50 – 100 cents, with wools carrying more than five per cent vegetable matter most affected.
The Crossbreds recorded falls, although, not to the same extent as the Merinos, generally easing by 30 – 50 cents.
The first sale of the new season is traditionally one of the larger sales for the year, as growers looking to sell in the new financial year take the first opportunity.
This year however the sale is smaller than normal, perhaps due to the deteriorating market.
Currently there is 34,504 bales rostered for sale in Sydney, Melbourne and Fremantle.