Wool report: EMI increased to 7 cents and closed at 1,934c/kg.

Photo: File.
Photo: File.

Week commencing 04/02/19:

The Eastern Market Indicator increased seven cents and closed at 1,934c/kg.

Week 31 saw a slight reduction in quantity with a national offering of 38,830 bales.

There were mixed results across the three selling centres for the merino sector with better styles attracting better buyer competition whilst poorer style wools lacked that support.

The northern 17-micron indicator recorded no movement remaining at 2,538c/kg.

The 19-micron indicator decreased 9 cents to finish at 2,304c/kg and the 21-micron indicator increased 4 cents closing at 2,249c/kg.

The northern crossbred 25-micron indicator recorded no movement and closed at 1,505c/kg.

The 26-micron indicator increased 45 cents to finish at 1,343c/kg and the 28-micron indicator increased 90 cents closing at 1,024c/kg.

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All crossbred indicators recorded rises, however it was the better prepared lines that received the strongest competition.

The merino cardings for the north decreased 21 cents and closed at 1,165c/kg.

AWTA numbers are depicting the continued increase in numbers for fine wool while the broader numbers decrease.

Currently there is small fake fur business being done as well as carpet orders which have helped the crossbred market both in Australia and New Zealand.

Most Chinese mills have closed for the next two weeks however they are still buying for when they come back.

Europe continues to have a positive outlook on the wool industry with large mills recording a turnover up on last year.

Quantity will continue to keep merino prices high and there remains overall positivity for the next couple of months within the industry.

Week 32 will see an increase in national quantity and is a designated Australian Superfine Sale for Sydney where they will offer 11,736 bales.

Melbourne will offer 19,922 bales and Fremantle will offer 8,768 bales across the two selling days.