Wool EMI down 247 cents in the last 30 days
- By: "Farm Tender" News
- Ag Tech News
- Nov 09, 2018
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By Mark Dyson - Quality Wool
The Australian dollar trading above 72 US cents added additional pressure to the wool market in the last week, as the Eastern Market Indicator (EMI) continued its downward spiral to finish at 1776 cents per kilogram clean, a reduction of 78c/kg clean on the previous week.
The EMI has now reduced by 247c/kg clean on a month ago (2023c/kg), when the last market increase was recorded.
For the fourth week running, all Merino micron categories were affected losing 70 – 161c/kg clean, with the finer micron categories falling 135 – 161c/kg.
Volumes of poor-measured, drought-affected types still hinder the market as the trade endeavour to meet export order specifications.
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Despite the decline in values, on the flipside better style wools with good strength measurement above 40 Nkt are continuing to attract the better money and are being well supported.
Skirting types fell in value in line with the fleece categories, with most types back 50 – 80c/kg clean.
The finer 24 – 26 micron crossbred types also came unstuck this week as they eased up to 90c/kg clean, with the broader 28 – 30 micron types back 30c/kg clean.
Locks, crutchings and stains fell 50 – 80c/kg as the Merino Carding Indicator fell back 75c/kg clean to 1045c/kg.
The reduced values affected clearance rates, as passed in volumes once again exceeded 20 per cent of the offering.
Next week’s national wool offering is expected to be 39,883 bales, an increase of over 7,000 bales on this week.
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