Weekly Market Report

Mark Dyson, Managing Director

Mark Dyson

Wool market rallies

The wool market rallied this week, after heading in a downward spiral for the past few sales, the Eastern Market Indicator (EMI) gained nine cents per kilogram to see 1279c/kg clean.

While all three centres were in action, the offering was still rather low at 31,672 bales with 6.6 per cent passed-in.

Most attention was again directed towards the more stylish types, but this week also saw strong buyer support for the average spec fleeces, which subsequently enjoyed price gains.

The finer end of the catalogue firmed by 4-14c/kg, while medium to broader types increased by as much as 29c/kg in the 21 micron guide, which closed at 1403c/kg.

Merino skirtings continued the trend, while cardings went the opposite route and actually fell by 11c/kg in the South.

The results for crossbreds were mixed, with gains of up to 30c/kg but there were also some slight discounts.

With Fremantle in recess next week, the national offering will be smaller again and an estimated 24,000 bales are set to be offered.