Wk 47 19/05/2016. The AWEX EMI increased by four cents this week to rest on 1,291 cents at auction sales in Australia. Despite the slight price increase of the EMI the Merino MPG’s seem to struggle to continue their upward trend despite the dollar generally trending weaker over the course of the sales.
Merino fleece saw mixed reactions from a wide range of exporter activity, resulting in a generally weaker result.
Skirtings maintained better support with some improvement on the medium and high VM types.
Crossbred prices increased for the first time in a while as national quantities on offer reduce in this sector, whilst the renewed buyer urgency emerged on the carding sector.
Forward priced traded freely in the front months and into Spring. The current opportunities have increased (with solid bidding present) to lock in 19-21 micron contracts is very attractive given the historic trends in June to September. ~ Marty Moses
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