Wool market back in action as the EMI rises three cents

EMI rises as wool markets roar back into life

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SELLING BEGINS: Wool sales have resumed after a cyber attack crippled the computer software platforms which underpin the auction system.

SELLING BEGINS: Wool sales have resumed after a cyber attack crippled the computer software platforms which underpin the auction system.

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Wool auctions have finally resumed after a cyber attack on the industry's main IT provider.

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Wool auctions finally roared back into life yesterday after the industry's main software provider overcame a crippling cyber attack with the Eastern Market Indicator edging up three cents to 1584c a kilogram clean.

A total 27,287 bales were cleared to the trade during the first sales since February 20 with a national pass-in rate of 16.1 per cent and turnover of $47.8 million.

Fremantle did falter a little with the Western Indicator shedding 12c to land on 1698c which resulted in a pass-in rate of 27.4pc.

The Sydney and Melbourne markets both made small gains.

Buyer sentiment was optimistic in Sydney which saw the Merino fleece market edge higher and record a strong clearance rate of 90pc despite a larger than normal offering of 10,512 bales.

A selection of 18.5 micron and finer wools ended the day 5-10c dearer. The broader microns rose 10c across all types and descriptions.

Merino skirtings wre firm with selected 17.5 micron and finer wools 10-15c dearer.

Crossbreds finished the day 5-10c lower.

Melbourne featured a large offering of 13,802 bales but prices didn't suffer with a pass-in rate of 12.9pc.

Early increases in the Merino fleece market were maintained for the bulk of the sale with only minor falls toward the close of selling.

The market closed 10c easier for 19 micron and finer with 19.5 and broader 15-20c dearer. Demand for Merino skirtings was strong with early strong increases of 15-20c, particularly for 18 micron and finer.

At the close of selling skirtings had added 10c compared with the last Melbourne sale.

Crossbreds lifted 10c across all microns.

Over in Fremantle the Merino fleece market opened strongly but as the sale progressed prices started to fall and by the end of the day 18 micron and finer had lost 25-35c while 18.5 micron and coarser generally fell by 5-20c. Sellers responded by passing in 34pc of the fleece.

Merino skirtings 17.5 micron and finer rose by around 20c while 18.5 micron and coarser were 15-20c easier.

A total 31,983 bales are scheduled for sale at the three centres today.

The story Wool market back in action as the EMI rises three cents first appeared on Farm Online.

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