Weekly Market Report
Mark Dyson, Managing Director
Losses for second straight week
29 November 2019
The Australian wool market has recorded losses for the second consecutive sale, with the Eastern Market Indicator losing 25 cents to close the week at 1,530 cents per kilogram clean.
With a slightly decreased national offering of 37,804 bales presented for sale, it was apparent from the opening lots in the East that the market would continue to ease as individual Micron Price Guides (MPGs) across the country fell by up to 29 cents and the EMI by 18 cents on the back of it.
The second day of selling mirrored the first, with MPGs for 18.0 micron and coarser in the East dropping by a further 10 – 29 cents, pushing the EMI down by another nine cents.
Fremantle managed to buck the trend on the last day, with the Western region indicator recording a four cent rise mainly due to 5 – 15 cent increases in wool 20.5 micron and coarser.
These increases helped the Fremantle 21 MPG to become the only quote broader than 18.0 micron to record positive movement.
The national quantity increases to 41,274 bales for the next week, with selling in Sydney, Melbourne and Fremantle.