Wool report: Market starts off solid, then eases with EMI dropping

Photo: File
Photo: File

Week Commencing 10/06/2019

Week 49 started off solid but by Thursday the market seemed to ease some after last week and the Eastern Market Indicator dropped 23 cents to close at 1,864c/kg.

With Fremantle having a recess the national quantity between Sydney and Melbourne was 21,787 bales.

The northern 17-micron had too little quantity to quote however the 17.5-micron indicator lost 43 cents to finish at 2,345c/kg.

The 19-micron indicator lost 18 cents, closing at 2,193c/kg and the 21-micron indicator had insufficient quantity to quote.

It's expected there could be more downside seen for merino combing wools however the fine wools should remain steady.

The northern crossbred 28-micron indicator lost 10 cents and finished at 1,115c/kg, similar to merino combing wools, the crossbred sector is expected to see some downside in the near future while demand remains low.

The merino cardings are predicted to see some increased discounts for low staple strength and high VM.

The northern merino cardings indicator lost 15 cents to finish the week at 1,021c/kg.

Week 50 will see Fremantle back to selling and the national quantity is 29,989 bales.

Sydney will offer 8,242 bales, Melbourne will offer 15,136 bales and Fremantle will offer 6,611 bales.