Merino sector strong despite slight market dip

Merino sector strong despite slight market dip


Wool
Aa

The Australian wool market dipped slightly on the previous week.

Aa
The Melbourne woolstores. Photo by Laura Ferguson.

The Melbourne woolstores. Photo by Laura Ferguson.

In the second last week of sales for the year, the Australian wool market dipped slightly on the previous week.

The Eastern Market Indicator (EMI) closed week 23 at 1849 cents a kilogram, an 11c/kg dip on the week prior.

This was on just over 38,000 bales offered, an increase of almost 4000 bales on the week before.

But just over 10 per cent of the bales did not sell, with 10.3pc passed-in, 2.7pc more than week 22.

The total week’s offering was down 162,043 bales year-on-year, or 18.2pc.

The Souther Market Indicator closed at 1818c/kg, down 13pc week-on-week.

It was the lowest indicator of the three selling centres.

But the Merino sector performed strongly, recording gains across most microns.

It was a lack of interest among other types that meant the market stayed well below its record highs experienced in August this year.

Aa

From the front page

Sponsored by