Weekly Market Report
Mark Dyson, Managing Director
Up and down market in Week 20
15 November 2019
With both positive and negative price movements in the same sale, the Australian wool market has again continued to perform erratically in Week 20.
With Fremantle recording price increases at the tail-end of the previous sale, prices in the Eastern markets quickly jumped above Fremantle’s closing levels in the opening lots this week.
By the end of the first day’s selling, Merino MPGs had risen by 32 – 65 cents and the AWEX Eastern Market Indicator (EMI) jumped 25 cents on the back of it.
Fremantle MPGs also rose by 25 – 39 cents, bringing all three centres closer to alignment.
The market contracted in the second day of selling, with individual MPGs across the country losing between 4 – 31 cents and the EMI dropping six cents.
Despite the second day losses, the EMI still managed to record a positive overall movement of 19 cents to close the week at 1,574 cents per kilogram clean.
The crossbred sector had a lacklustre series, with crossbred MPGs recording minimal change of generally between 5 – 10 cents in both directions.
The skirtings followed a very similar path to the fleece, with price rises on the first day followed by losses on the second.
The price rises have enticed some sellers back to the market, with the national quantity increasing for next week.
Currently, there are 40,726 bales available for sale in Sydney, Melbourne and Fremantle.