Weekly Market Report
Mark Dyson, Managing Director
Market tracks upward again
1 November 2019
The Australian wool market continued to track upward this week, with the price rises from the previous sale encouraging more sellers to the market and pushing the national quantity up to 37,381 bales.
Price gains were again apparent from the opening lots in the East, while the Northern region (which didn’t sell on the second day of last week thus missing out on the price increases on that day) posted the largest gains on day one.
The Northern Micron Price Guides (MPGs) added 50 – 72 cents for the day, helping to push the AWEX Eastern Market Indicator (EMI) up by a healthy 49 cents.
The second day of selling saw a steadying of the market, reflected in the EMI which remained unchanged before eventually finishing the week 49 cents up at 1,594 cents per kilogram clean.
It’s worth noting however that toward the end of the second selling day the market started to soften, so much so that the MPGs in the Fremantle region dropped by 10 – 22 cents.
After being the poorest performing sector over the past month, the crossbreds this week recorded the largest increases with strong buyer interest pushing prices up by 35 – 70 cents.
The oddments also posted large rises with a 50 – 100 cent increase in locks, stains and crutchings pushing the three regional carding indicators up by an average of 65 cents.
There is a similar quantity available next week, with 36,497 bales on offer nationally.