EMI edges up to 1556c as wool market steadies

Wool's EMI nudges up by 8c despite coronavirus weighing on market

Wool
STEADY AS SHE GOES: The wool market finished the first day of selling this week on a positive note but growers are wary about the impact of coronavirus on Chinese mills.

STEADY AS SHE GOES: The wool market finished the first day of selling this week on a positive note but growers are wary about the impact of coronavirus on Chinese mills.

Aa

Despite fears about the impact of coronavirus on the wool market, prices nudged up at sales today.

Aa

Wool prices crept up at today's sales in Melbourne, Sydney and Fremantle despite ongoing fears about the impact of coronavirus on Chinese buyers.

China is the dominant buyer of Australian wool and an outbreak of coronavirus has almost shut down the country.

The Eastern Market Indicator finished the day up eight cents to 1556c a kilogram clean on an offering of 13,053 bales and a national pass-in rate of 14.5 per cent.

Last week the EMI shed 56c on the first day of selling but recovered 28c of the loss at Thursday's sales.

A smallish catalogue of 3492 bales in Sydney attracted solid buyer demand across all microns.

Fleece wools 18 microns and finer rose 10 to 20c while the 18.5-19.5 micron range lifted by 5-10c.

A limited selection of 20 micron and broader wools were 15-20c dearer.

Merino skirtings 17.5 micron and finer jumped by 30-40c while all other categories were 20-30c higher.

The Northern Indicator climbed 14c to 1592c with a pass-in rate of 9.5pc.

A catologue of 6018 bales in Melbourne saw Merino fleece 17.5 microns and finer rising by 35c while broader microns closed 10-15c dearer.

Merino skirtings 17.5 and finer climbed by 30c while broader wools lost 10c.

Well prepared crossbred wool increased 5-10c. The pass-in rate was 11.2pc which helped boost the Southern Indicator by 5c to 1534c.

A high pass-in rate of 26.7pc was a feature of the Fremantle sale where the Western Indicator rose by 9c to 1692c.

Merino fleece lines 18.5 micron and finer were generally 15 to 25c dearer, 19 to 20 microns 5-10c higher and 20.5 microns and coarser up by 15-20c.

Merino skirtings 17 micron and finer were 40-60c dearer while 18 to 20 micron skirtings were 10-15c easier.

The day's turnover was $18.4 milliion. Tomorrow 19,442 bales are rostered for sale.

Aa

From the front page

Sponsored by