Wool jumps 15c/kg

13 Jun, 2013 11:18 AM
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THE wool market has continued its upward climb with the Eastern Market Indicator (EMI) gaining 15 cents a kilogram yesterday to close at 1067c/kg.

This comes on the back of a 20c/kg gain the EMI experienced the week prior.

Both Sydney and Melbourne auctions operated yesterday, as did Fremantle which was back in action following a one week recess.

Based on week-on-week gains the indicator at Sydney gained 22c/kg to close at 1084c/kg and at Melbourne the indicator gained 10c/kg to finish at 1055c/kg.

The last sale held at Fremantle was May 29 and yesterday’s indicator at Fremantle closed at 1082c/kg up 39c/kg on the previous sale.

At the Sydney sale the micron indicators (MI) with the greatest gains were in the 18 to 22 MI range, all of which gained 20c/kg or more.

The 18 and 18.5 MI each gained 24c/kg to close at 1239c/kg and 1218c/kg respectively, while the 17 MI jumped 21c/kg to close at 1330c/kg.

Crossbred wools also gained solid ground at Sydney with the 26 MI gaining 22c/kg to finish at 850c/kg and the 30 MI gained 18c/kg to close at 614c/kg.

Merino cardings also fared well at Sydney, up 19c/kg to close at 805c/kg.

At the Melbourne sale the gains were less buoyant - the best lift of 16c/kg was the 22 MI which closed at 1189c/kg.

Both the 18 and 21 MI gained 14c/kg to close at 1237c/kg and 1183c/kg respectively.

Major gains were made in the west at the Fremantle sale with the 22 MI up 56c/kg to close at 1172c/kg.

The 20 MI gained 51c/kg to finish at 1183c/kg.

The 18 to 19 MI all gained upwards of 30c/kg to all finish over 1200c/kg.

Merino carding indicator jumped 29c/kg to close at 770c/kg.

There were 16,005 bales offered with only four per cent passed in at auction.

Major buyer was Techwool Trading who secured 14pc of the offering (2158 bales).

The Australian Wool Exchange expects 16,340 bales will be offered today.

FarmOnline
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READER COMMENTS

Beefy
14/06/2013 7:51:39 PM

Yep things are improving every day, Wool is nearly back to where it was in 1990. Just makes you wanna rush out and buy buy buy, then lose lose lose.

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