After a modestly firmer market in all selling centres on Wednesday, the market retreated during Thursday’s sales.
The EMI lifted one cent on Wednesday, before easing five cents the following day to close at 915 cents.
The northern market indicator gained one cent to 947 cents on the back of firmer prices across the fine and medium micron categories, which gained between three and nine cents, with the 17-micron categories the outstanding performers gaining 14 cents. Coarse micron categories were soft during Wednesday, however rebounded on Thursday, as the fine and medium microns did the opposite and generally eased between three and 11 cents. The NMI eased three cents to 944 cents. Crutchings in the north were firm this week, while other oddments closed softer.
Melbourne was host to sales over Wednesday and Thursday. Results were mixed across micron categories on Wednesday, varying from 10 cents and 11 cents for the 24 and 18.5-micron categories respectively, to nine cents softer for the 28-micron categories.
The SMI was quoted one cent firmer at 899 cents. Thursday’s result was more clear-cut, with softer prices generally throughout the market. The only positive change was recorded by the 24-micron categories, quoted up 11 cents. Otherwise fine through to coarse wools generally eased anywhere from one cent to 16 cents. The SMI eased nine cents to 890 cents. Oddments in the south were generally softer.
The Western Market Indicator was one cent softer week on week, closing at 924 cents after gaining four cents on Wednesday then easing five cents on Thursday.
The 18.5 to 23-micron categories offered gained between one and seven cents on Wednesday, and then eased between three and eight cents on Thursday. The 18.5-micron categories were the exception, gaining four cents. Only minor movements were recorded by oddments over both selling days.
This week’s estimate of just over 37,700 bales will be the lowest volume of wool on offer nationally to date in 2010. Melbourne, Sydney and Fremantle auction centres will be operating from Wednesday to Thursday.