What the wool market giveth, it taketh away

Wool market surrenders gains with the EMI falling 19c

Wool
SEEKING STABILITY: Growers are frustrated with the constant rises and falls in the wool market so far this selling season.

SEEKING STABILITY: Growers are frustrated with the constant rises and falls in the wool market so far this selling season.

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Darn it, the wool market took another downward wobble last week with EMI losing 19 cents.

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The wool market last week surrendered all the slim gains of the previous week with the Eastern Market Indicator shedding 19 cents to finish at 1555c a kilogram clean.

The EMI lost 16c on the first day and another 3c on the second day of selling in Sydney and Melbourne.

More sellers had been encouraged into the market by the positive tone in prices with a national offering of 38,298 bales.

However that was still 10,000 bales down on the same sale last season.

Turnover last week was $54.37 million bringing the total for the season so far to $841m.

Wools 19 microns and coarser suffered the biggest falls in Melbourne and Sydney, dropping by eight to 35c during the first day of selling.

The softer tone continued the following day but at a much more subdued pace.

The individual micron price guides in the eastern centres were mostly 10-20c cheaper although the broader ranges of 21-22 microns showed some promise, closing marginally higher.

Fremantle continued that trend and ended the week on an encouraging note, firming by 5c clean for most microns.

Merino skirtings continued to find good support and closed ahead for the better types, particularly in the finer microns.

The national pass-in rate last week was 16.1 per cent, a rise of 9.1pc.

The Sydney Indicator ended the week at 1591c, a drop of 19c.

The Southern Indicator in Melbourne also lost 19c to finish at 1532c.

Over in Fremantle the Western Indicator gained 4c on Thursday to end the week 22c down on 1655c.

A national offering of 39,280 is scheduled for sale this week.

The story What the wool market giveth, it taketh away first appeared on Farm Online.

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