Mecardo Market softens overall

The wool market softened this week overall with AWEX reporting the skirting market was the strongest performing sector for the week, especially those with less than 5% VM levels.

The Eastern Market Indicator (EMI) fell again this week, slipping 14ȼ on last week to close at 1,407ȼ. The Australian dollar continued to strengthen, improving by 0.11ȼ with the AUD quoted at US$0.7293. This resulted in the EMI in US dollar terms moving up by another 5 cents to settle at 1026ȼ.

Over in the west, the Western Market Indicator (WMI) also fell by a similar amount, down 15ȼ to finish the week at 1444ȼ. The 18 MPG in Fremantle lifted by 14ȼ but all other indicators 21 MPG and finer fell between 18 & 32ȼ. Fremantle sold 8,430 bales while passing in 15.3% of the offering.

In Melbourne all bar one of the micron categories fell for the finer to medium types, ranging from 3ȼ for the 20MPG to a 50ȼ fall for the 17MPG. The 19.5MPG was the only micron indicator that lifted, albeit only by 1 cent.

In Sydney, the 17.5MPG to 21MPG all fell between 6 to 25 cents although the finer types there, 16.5 & 17 MPG were the strongest performers for the east coast, lifting 2 & 11 cents respectively.

Crossbred wools all fell between 1 & 12 cents, bar the 28 MPG in Sydney which lifted by 1 cent. Cardings in Sydney & Melbourne were 23 & 14ȼ weaker whilst in Fremantle cardings lifted by 5 cents.

The national offering rose by just over 1,000 bales to 50,120 bales offered. The national pass-in rate was 12.2% which resulted in 44,028 bales sold, about the same as the week prior.

Our thoughts are with the communities affected by the extreme weather events in northern NSW & south east QLD. The Australian Wool Innovation has some good resources & links for those affected by the flooding in NSW & for those in QLD the Department of Agriculture & Fisheries has information on financial assistance.