EMI stays at 1594c in steady end to week's wool sales

Steady end to week's wool sales with EMI at 1594c

Wool
STEADY AS SHE GOES: The wool market ended on a steady note after rising strongly on Wednesday.

STEADY AS SHE GOES: The wool market ended on a steady note after rising strongly on Wednesday.

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The Eastern Market Indicator sits on 1594 cents a kilogram clean as the wool market ended the week on a steady note.

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The wool market ended the week on a steady note with the Eastern Market Indicator remaining at 1594 cents a kilogram clean after sales in Melbourne and Sydney.

Hopes the EMI would add further gains on Wednesday's 49c rise were dashed but at least the market didn't take a big dip.

A total 19,333 bales were offered nationally in Sydney, Melbourne and Fremantle with a pass-in rate of 9.6pc.

Solid demand in Sydney saw all micron price guides generally maintain Wednesday's higher levels.

An offering of good style 18 micron and finer wools were as much as 5-10c dearer while a selection of lower style types ended the day in buyers' favour.

The broader microns were as much as 5c lower with selected best style lots less affected.

Merino skirtings ended the day fully firm across all microns and descriptions with selected top lots as much as 10c dearer.

An offering of 26.8 micron and broader crossbred wool finished the day cheaper with selected lower style lots dipping by as much as 5-10c.

In Melbourne high-yielding and well-measured Merino wools remained firm compared with Wednesday while lower style lots were discounted by 5 to 10c.

At the close of selling all micron price guides softened by 3-5c.

Merino skirtings fell by 10c as wools with high vegetable matter weakened overall price guides.

Crossbred wools remained unchanged across all microns.

The Fremantle fleece market was unable to continue its upward path after rising for four consecutive sales.

All types and descriptions of Merino wools slipped by 10-20c.

Vendors weren't happy and by day's end just over 24pc of the fleece was passed in.

Merino skirtings 18.5 to 19.5 micron were 10c dearer while all other descriptions were firm.

The Northern Indicator jumped another 4c in Sydney to 1626 on an offering of 4182 bales.

The Southern Indicator lost 3c to 1567c at Melbourne where 8886 bales were offered.

Across the Nullabor the Western Indicator shed 13c to 1687c on an offering of 4180 bales.

Today's sale grossed $31.6 million.

Next week 36,497 bales are rostered for sale.

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