End-of-season slide for EMI

19 Jun, 2015 07:20 AM
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Most microns closed in the red, but the movements were quite modest

SALE week 51 often sees the smallest national offering in the season, and this week was no different, with a 36-cent drop for the Australian Wool Exchange Eastern Market Indicator (AWEX EMI).

"Fremantle, now in its fortnightly selling programme, was absent from proceedings, so the national offering was below 24,000 bales for the east coast-only series," AWEX senior market analyst Lionel Plunkett said.

The result was the largest weekly fall in two years, coming off the back of a 17c dip last sale.

"The Merino fleece sector was the main area which weighed down on the EMI, with falls of 50 to 60 cents clean over the week fairly typical of movements in the Micron Price Guides," Mr Plunkett said.

The price reductions were more heavily weighted towards the medium and broader types, but were reasonably consistent across both sale days. The finer microns suffered sharp losses for the lower spec types, however, the more stylish/40nkt types found good support and any discounting for these types was limited.

Also showing some positive signs was the 22/23-micron range in Melbourne on the final day. Merino skirtings followed the fleece lower during the sale, although the movements were not as large, closing 20c to 40c down for the week. Crossbred types remained relatively calm when compared with the tumble in fleece catalogue valuations.

"Most microns closed in the red, but the movements were quite modest. The Merino Carding Indicator (MCI) fell in both regions, its first weekly fall since early March," Mr Plunkett said.

"In Melbourne, over that period, the MCI had risen for 14 consecutive selling weeks, a record for the MCI."

The final sale for the 2014/15 season will be held next week when 48,849 bales are currently forecast to be offered.

FarmOnline
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READER COMMENTS

Jock Munro
23/06/2015 4:49:47 AM

Why would any one be surprised that the wool market would slide? Before we know it we might even see prices back to where they were 12 months ago. This is coveted free market at work.

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