Solid start to week for wool with EMI rising 25 cents

Wool kicks off week with the EMI shooting up 25 cents

Livestock
LOOKING GOOD: The wool market opened on a positive note today with the Eastern Market Indicator rising 25 cents to 1580c.

LOOKING GOOD: The wool market opened on a positive note today with the Eastern Market Indicator rising 25 cents to 1580c.

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Wool sales have started the week on a positive note with the Eastern Market Indicator climbing 25 cents to 1580c.

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The unpredictable wool market took an upward spurt today with the Eastern Market Indicator rising 25 cents a kilogram clean to 1580c.

A national offering in Melbourne Sydney and Fremantle of 16,980 bales drew strong buyer interest which resulted in a low pass-in rate of 5.3 per cent.

AWEX said substantial price increases were recorded across all microns in Sydney where 4990 bales were offered.

The Northern Indicator zoomed up 38c to 1621c.

Fleece wools around the 16.5 to 20.5 micron range recorded increases of 50-65c with all types and descriptions, including those with low staple strength and high vegetable matter, attracting strong demand.

Merino skirtings were 30-40c dearer across all microns and descriptions. Crossbreds ended the day firm or unchanged across all microns.

In Melbourne fleece lines lifted by 35 to 45c. The strongest increases were in lower style and less well-measured wools which jumped by 40-50c.

The Southern Indicator added 20c to finish the day on 1554c.

The pass-in rate was only 4.3pc on an offering of 9098 bales.

Merino skirtings 18 micron and finer added 30-40c.

The Fremantle fleece market followed the lead of Sydney and Melbourne, adding solid increases throughout the sale.

By the end of the sale the Western Indicator had climbed 36c to 1698c.

The bulk of the offering was between 18 and 21 micron and these wools sold at levels 25 to 40c above the previous sale.

The pass-in rate on a catologue of 2892 bales was 6.3pc.

Prices for Merino skirtings rose by 30 to 45c across the board.

A national offering of 20,423 bales is rostered for sale tomorrow.

The story Solid start to week for wool with EMI rising 25 cents first appeared on Farm Online.

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