Wool prices end week in positive territory despite late wobble

EMI gains 19c but wool market still can't find stability

Livestock
WOOL WOBBLES: The Australia wool market has continued on its erratic pattern but the Eastern Market Indicator added 19 cents for the week.

WOOL WOBBLES: The Australia wool market has continued on its erratic pattern but the Eastern Market Indicator added 19 cents for the week.

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Wool prices went on their erratic path this week but at least the market made some overall gains.

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The erratic wool market took another small downward wobble yesterday but the Eastern Market Indicator still gained 19 cents a kilogram clean for the week to finish at 1574c.

But due to currency movements the EMI rose only 2c in US dollar terms.

The EMI shed 6c at sales in Melbourne and Sydney on Thursday where a total 15,678 bales were offered.

AWEX reported strong buyer competition and clearance rates of 92 per cent in in Melbourne despite early discounts.

Fleece prices rallied towards the end of the sale but returns still fell across all micron guides by 15-20c.

Prices for Merino skirtings 18.5 microns and coarser sold in buyers' favour while the finer wools were 5-10c dearer.

Crossbred wools remained unchanged.

The Southern Indicator dropped 3c to end the day at 1551c on an offering of 9962 bales.

In Sydney 17.5 micron and finer wools ended the day 5-10c lower.

The broader microns eased by 15-20c with best style, well measured wools less affected.

Merino skirtings were firm to unchanged with selected 17.5 micron and finer lots much as 10-15c dearer.

Crossbred wools 27 micron and broader wools have eased by as much as 10c.

The Northern Indicator dived by 11c to 1610c on an offering of 4791 bales and a pass-in rate of 6.8pc.

The story was the same over in the west at Fremantle with medium to broad fleece lines hardest hit resulting in 19.5 micron and coarser selling 20 to 30c cheaper.

Wools 19 micron and finer were less affected and were generally 15-20c easier.

The price cuts were met with seller resistance and more than 17pc of the fleece lines were passed in.

Merino skirtings were generally 15 to 25c lower.

A total 40,726 bales are rostered for sale next week in Melbourne (21,779), Sydney (10,015) and Fremantle (8932) but prices would need to be strong to maintain that estimate.

The story Wool prices end week in positive territory despite late wobble first appeared on Farm Online.

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