Wool market losses recorded for third week in row

Wool market losses recorded for third week in row


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The Melbourne woolstores. Photo by Laura Ferguson.

The Melbourne woolstores. Photo by Laura Ferguson.

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The Australian wool market has continued on its downward trend.

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The Australian wool market has continued on its downward trend, with the Eastern Market Indicator (EMI) losing 21 cents a kilogram last week.

It closed week 14 on 1992c/kg, and this was on an increased offering of 39,261 bales, up 6276 on last week.

This is the third week in a row the EMI has taken a hit, where in total it has lost 102c/kg.

There were falls in almost every micron level in the Southern Market Indicator, with only 20 micron and 32 micron seeing slight increases.

The biggest fall was in the 16.5 micron category, where it fell by 92c/kg.

Nationally, 10.9 per cent of bales were passed-in, which is quite significant, and up on last financial year, but is 3.2pc down on last week.

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