Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Third consecutive market drop

The Australian wool market has recording losses for the third consecutive sale, with the Eastern Market Indicator (EMI) dropping 38 cents to close the week at 1,492 cents per kilogram clean.

Better style wools with favourable additional measurement results sold at levels only 20 – 30 cents below the previous week, but lesser style wools with poor additional measurements and higher levels of vegetable matter didn’t fare as well, generally falling by 50 – 80 cents.

The drop in these lesser types drove the reduction in the individual Micron Price Guides (MPGs), which fell by 26 – 72 cents across all three centres.

Sellers across the country were reluctant to accept the reduced-price levels, with the national passed in rate jumping to 20.4% (6.2% up on the previous week).

The oddment sector was the only shining light in an otherwise dim market, managing to record minimal positive movements.

This was reflected in the three regional carding indicators which rose by an average of just over two cents.

With only two selling weeks left before the annual three-week Christmas recess, quantities traditionally increase for the final two sales and this year is no different, with the national quantity increasing to 48,451 bales, with Sydney, Melbourne and Fremantle all in operation.