June 7, 2013
The downward dip in the wool market didn't last long with the Australian Eastern Market Indicator (EMI) closing 20 cents a kilogram stronger this week at 1052c a kilogram. The lift comes on the back of 6c/kg slide the EMI experienced the week prior when it finished at 1032c/kg.
A market recess at Fremantle and a one-day sale in Sydney this week resulted in the smallest national offering in 12 months, according to the Australian Wool Exchange (AWEX) weekly market report. The limited supply had a definite impact on the price.
AWEX senior market analyst, Lionel Plunkett, said export figures for April show China had a record market share in two separate micron categories. For the 19-micron and finer range, China took 86 percent of all exported wool, while China took 95 percent of the 24 to 27 micron range wool.
Reprinted in part from The Land, AU