The Australian wool market continued its easing trend on opening this week as the national offering increased to above 45,000 bales, with the Eastern Market Indicator (EMI) falling 14 cents clean for the week to finish at 1558 cents per kilogram.
The greatest falls were felt on the first day’s trade, as all micron categories eased 10-45 cents clean.
As in recent weeks, wools of poorer style and carrying high vegetable matter were challenged and received the greater discounts.
Some relief was received on the second day’s trade with best style Merino wools expressing good strength finding buyer support, eroding some of the losses from the first day’s selling.
Skirtings eased 20-30 cents clean, while the crossbred sector decreased by 25-40 cents clean across all micron categories.
The higher VM carding categories eased 10-20 cents clean, though some trade support was seen for a limited supply of FNF Merino lambs.
Despite the falls in the market over the past two weeks, values still remain well above pre-recess levels with the 17-23 micron categories presently trading in the high 90 percentile rankings over the five-year period.
Next week’s sales continue across all three selling centres, with the national offering expected to reduce slightly to 42,872 bales with Melbourne hosting 23,563 bales.
Source - http://www.qualitywool.com/