EMI down 52 cents clean for the week
- By: "Farm Tender" News
- Ag Tech News
- Mar 09, 2018
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By Mark Dyson Quality Wool
The record wool values delivered over recent times for the Merino sector could not be sustained this week, with the Eastern Market Indicator (EMI) falling 52 cents clean to finish at 1778 cents per kilogram clean.
On the back of a slightly larger offering from the previous week and a dearer Australian dollar trading above 78 US cents, a softer tone to market conditions was felt from the outset of selling.
The 18.5-22 micron categories eased 17-32 cents clean on the first day’s trade, with other micron categories also coming under pressure.
The downward spiral continued as selling progressed over the next two days, with any off-type wools and those expressing high vegetable matter content hardest hit.
By week’s end, heavy losses were felt right across the Merino spectrum with reductions of 30-116 cents clean, the 19-20 micron categories falling 108c/kg and 116c/kg respectively.
The skirting categories declined in line with the fleece types, with the heavier fault carding categories easing 30-50 cents clean.
Free or nearly-free locks and crutchings, along with the Merino lambswool categories bucked the trend and found solid trade support.
The better prepared 26-28 micron crossbred wool types finished the week out firm to marginally dearer, although they did come under pressure towards the end of trading.
In a week where demand and buyer support was irregular, seller passed in rates increased to above 10 per cent.
Next week, the national wool offering reduces marginally to 43,894 bales with all three selling centres in action.
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