Wool prices on slide again with EMI losing 16 cents

Darn it, wool market takes another downward wobble with EMI losing 16c

Wool
SEEKING STABILITY: Growers are frustrated with the constant rises and falls in the wool market so far this selling season.

SEEKING STABILITY: Growers are frustrated with the constant rises and falls in the wool market so far this selling season.

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Wool sales resumed on a lower note across the nation on Wednesday, shedding most of last week's gains.

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Last week's small gains in the wool market largely evaporated when sales resumed in Sydney, Melbourne and Fremantle on Wednesday.

The Eastern Market Indicator shed 16 cents to end the day at 1558c a kilogram clean.

Last week the EMI gained 19c despite a downward wobble during last Thursday's sales.

The national pass-in rate yesterday hit 13.8 per cent on an offering of 18,285 bales.

In Sydney the fleece market eased across all microns with 18pc of the offering failing to meet reserves.

An offering of 18.5 micron and finer wools eased by 15-30c with best style lines with favourable additional measurement less affected.

The broader microns ended the day 25-35c lower across all types and descriptions.

Merino skirtings generally maintained prices recorded at last Thursday's sale.

An offering of 27-27.5 micron crossbred wool eased by 10-20c while other microns were generally unchanged.

The pass-in rate in Sydney on a catalogue of 5227 bales was 13.6pc.

The Sydney Indicator ended the day at 1592c, a drop of 18c.

Down south in Melbourne after early losses the market rallied with 18.5 micron and finer overall lifting when compared to last week's close.

At the end of the sale AWEX said 18.5 micron and finer fleece was up overall by 5-7c while 19 micron and broader lines were 20c easier. Crossbred wool eased by 20c for 29 microns and finer.

The Melbourne Indicator lost 14c to finish at 1537c after 9pc of the 8678 bales on offer were passed in.

Over in the west the Fremantle market had a tough day.

Finer microns lost buyer support, with 19.5 micron and finer generally dropping 25 to 45c.

After starting the day well 20 micron and coarser lost ground as the sale progressed, finishing the day generally 20 to 25c easier.

Around 26pc of the fleece catalogue was passed in.

Merino skirtings were generally 30 to 40c easier.

The Western Indicator shed 26c to 1651c despite 23.5pc of the 4380-bale offering being passed-in.

A national offering of 21,220 bales is scheduled for sale today.

The story Wool prices on slide again with EMI losing 16 cents first appeared on Farm Online.

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