EMI drops 11 cents, finishes at 2,011c/kg

Photo: File
Photo: File

Week commencing 11.06.18

The wool market this week, 49, closed on the first drop to the Eastern Market Indicator since week 44, falling 11 cents finishing at 2,011c/kg.

With Fremantle having their recess this week, 26,942 bales were on offer this week from Sydney and Melbourne over their two selling days.

The drop in indicator was mainly seen in the finer microns while a limited supply of 21 and broader maintained demand pushing prices up.

Since Christmas the market has seen fine merino micron, 16 and below, sale volumes decrease, mid microns, 17, 18 and 19, have increased in sale volume, while 20-23 micron sale volume has had a large decrease of 30-40 per cent.

The average price from January – May 2018 has increased 15 per cent compared to last year due to demand and has been seen across all merino microns.

Nearly all of the Sydney major micron indicators have fallen with the 17 micron indicator falling 22 cents finishing at 2,863c/kg. 19 micron indicator has dropped 45 cents ending at 2,271c/kg.

The 21 micron indicator increased 15 cents, finishing at 2,254c/kg.

The crossbred major indicators also decreased however this fall was not as severe as the merinos.

The 26 micron indicator fell 3 cents finishing at 1,491c/kg and the 30 micron indicator fell 9 cents closing at 900c/kg.

The cardings indicator rose 9 cents finishing at 1,479c/kg.

As the supply of finer micron wool enters the market, premiums previously seen will start to decrease however global demand remains strong.

Fremantle will return to selling offering 4,290 bales, Melbourne will offer 13,623 bales and Sydney

will offer 11,043 bales in week 50.