Wool EMI still trading over 2000c/kg despite small loss for the week
- By: "Farm Tender" News
- Ag Tech News
- Mar 01, 2019
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By Mark Dyson - Quality Wool
The wool market opened on a softer tone this week against a solid national offering of 48,948 bales, with the Australian dollar trading marginally dearer at mid-to-high 71 US cents.
The benchmark Eastern Market Indicator (EMI) fell by 11 cents per kilogram clean to finish the week at 2016c/kg.
The bulk of reductions were felt on the first day’s selling out of Melbourne which resulted in most Merino and crossbred micron categories easing in line to last week’s final quotes out of Fremantle, with the 16 – 23 micron types back 23 – 36c/kg clean.
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As sales progressed, some stability returned to the southern selling centre with the fine-to-medium Merino and crossbred types showing marginal increases, with the 17.5 and finer micron Merino types continuing to ease slightly in value.
The final day’s selling resulted in gains of 4 – 16c/kg clean across all Merino micron categories as the better-style, high-yielding wools became well sought after by the trade.
Overall, skirtings held on well and made modest gains for the week, with high vegetable matter types marginally cheaper on last week’s quotes.
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Cardings finished the week out 5 – 10c/kg clean dearer maintaining the positive momentum of the past few weeks, while passed in rates averaged just over eight per cent for the week across all selling centres.
Next week’s national offering consists of 46,128 bales, with over 50 per cent on sale from the Melbourne selling centre.
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