Wool prices stay healthy as EMI rises 6c

EMI jumps 6c as wool market defies coronavirus fears

Wool
IN GOOD HEALTH: The Eastern Market Indicator gained six cents today to finish at 1574 cents a kilogram clean after sales in Melbourne and Sydney.

IN GOOD HEALTH: The Eastern Market Indicator gained six cents today to finish at 1574 cents a kilogram clean after sales in Melbourne and Sydney.

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The wool market didn't lose any ground today despite lingering worries about the coronavirus in China, our main buyer.

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The wool market continued to shrug off fears about coronavirus today with the Eastern Market Indicator rising six cents to 1574c a kilogram clean after sales in Melbourne and Sydney.

Prices were also firmer across the west in Fremantle with the Western Indicator jumping a handy 20c to 1687c.

Nationally 20,321 bales were offered with 17,761 sold for a turnover of almost $30 million.

The Sydney Merino fleece market ended the day in positive territory, driven up by upbeat buyer demand for top-quality lines of 18.5 microns and finer which were 10-20c a kg dearer.

Broader microns recorded little change with a limited selection of 21 micron wools up by about 5c.

Merino skirtings with low vegetable matter recorded rises of 10-20c.

The Northern Indicator climbed 8c to 1612c on an offering of 3609 bales with a pass-in rate of 6.8 per cent.

The Melbourne market proved resilient with a catalogue of 10,367 bales and a mixed quality offering of good, average and inferior wools, many with low strength measurements.

These wools suffered only minor losses (10-15c). Wool broader than 20 microns was less affected and ended the day overall unchanged.

Lines of 19.5 micron and finer wools had a mixed day as the lower tender wools lost 10-15c and best style lines rose 20-30c.

Merino skirtings with poor strength were discounted 20c or passed in.

The Southern Indicator posted a small 4c gain to finisn on 1550c.

The Fremantle Merino fleece market opened stronger and continuing to strengthen as the sale progressed.

Main buyer interest was in the finer microns with 19.5 microns and finer rising by 15 to 30c while 20 microns and broader were 5 to 15c dearer.

Strong competition pushed Merino skirting prices higher. Lots with low vegetable matter jumped 50 to 80cr

The pass-in rate on the 6345-bale offering was 16.3pc.

A total 21,598 bales will be offered tomorrow.

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