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Ag News

Wool market up 61c/kg for the last sale of the year

  • By: Farm Tender "Prime"
  • Dec 15, 2017

By Mark Dyson - Quality Wool

The final wool market for 2017 opened up retaining the positive momentum from the previous week, with the Eastern Market Indicator (EMI) increasing by a massive 61 cents clean for the week to finish the year out at 1760 cents per kilogram.

This represents the strongest market increase seen heading into the Christmas three-week recess for many years, with an annual increase of 29.9 per cent year-on-year

Solid gains were seen across all the Merino micron categories, with values increasing between 20-43 cents clean on day one.

The finer crossbred fleece types also made some ground increasing by 10-15 cents clean, with further gains in the carding wool sector with all categories lifting 40-50 cents clean.

The strong market trend continued into the second day’s selling with further gains of 30-70 cents clean across all Merino micron categories, with the carding types also lifting 40 cents clean as buyers looked to cover off on indent order prior to the annual Christmas recess.

The final day’s selling saw price levels retreat marginally by 5-25 cents clean as the market made adjustments in an endeavour to find a new base level after the two days of significant gains.

Wool sales resume the week commencing January 8th, 2018.