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Ag News

Wool EMI hits a new record high

  • By: "Prime" Ag News
  • Apr 29, 2018

By Mark Dyson - Quality Wool

The two days of wool auctions incorporated the annual ANZAC holiday, resulting in sales taking place on Tuesday and Thursday this week.

Against a split week of selling, the Eastern Market Indicator (EMI) gained further ground to finish the week out in positive territory increasing by 21 cents to 1846 cents per kilogram clean, surpassing the previous record of 1834 cents per kilogram set in February this year.

Assisted by the drop in the Australian dollar to under US 76 cents, the opening sales continued the positive trend from the previous week with further gains across all Merino and crossbred wool categories of 12–31 cents clean.

As with recent weeks, the increased supply of lower yielding wools and higher vegetable matter types was again evident throughout the offerings with these types being in less demand, with the limited supply of better style types attracting greatest buyer attention and increase in values.

The crossbred wools types continued to rally, with the 26-30 micron types commanding keen competition increasing 10-30 cents clean.

The final day’s trade saw some consolidation in values as the 17-21 micron types eased 12-35 cents clean and the broader Merino and crossbred types increased a further 10-40 cents clean, the 26-28 micron types overall increasing 50-60 cents clean for the week.

Lower fault wools attracted the best demand in the skirting categories, with minimal change on those types exhibiting greater than five per cent fault.

Carding values remained near unchanged on the previous week with marginal gains for the finer FNF types.

There is little change in wool volume for next week’s sales, with the national wool offering consisting of 43,315 bales and Melbourne playing host to over 23,600 bales of this quantity.