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Market indicator dips under the 2000 cent mark - Down 62 cents

  • By: Dwain Duxson
  • Jul 06, 2018

By Mark Dyson - Quality Wool

Despite a lower trading Australian dollar (73.77 US cents), the first wool market for the 2018/19 season opened on an easing note as an anticipated correction in wool prices came to fruition.

An increased national offering to 43,880 bales resulted in all Merino and crossbred wools taking a hit, with the Eastern Market Indicator declining by 62c/kg clean to finish the week out at 1994c/kg.

As with recent weeks, the lesser style wools and those exhibiting poor measurement attracted the largest discount in values, along with the wools containing higher vegetable matter fault.

The 16-23 micron categories fell between 37-83c/kg clean, with the majority of wool types back 70-80c/kg clean.

Merino skirtings fell in line with the fleece types, with heavier fault types coming under further pressure as the trade looked to pull limits back on the recent record levels being achieved.

Finer micron crossbred types reduced by 50-70c/kg clean with the broader than 30 micron categories easing up to 20c/kg clean.

Carding wools faired best with falls of 5-15c/kg clean, with the higher fault carbonising types less in favour.

Next week sees the final market prior to heading into the annual mid-year three-week recess, with an expected national offering of 41,431 bales and Melbourne’s selling centre playing host to 22,545 bales.

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