Eastern Market Indicator surges by 55c at Australian auction sales

Marty Moses

Marty Moses

WOOL prices increased by 55c/kg at Australian wool auctions with the eastern market indicator (EMI) settling at 1891c/kg. 

Moses and Son principal, Marty Moses of Temora said the weekly increase in the EMI was the largest since February and it surpassed the previous record of 1847c. 

Mr Moses said Merino fleece of all categories received new interest and there was plenty of spirited bidding. 

The medium Merino micron ranges (20-23μ) pushed to new highs, in some cases 40c above the past records. The superfine and fine MPG’s posted good gains and the 17-19.5μ Merino skirtings rose 25c to 50c with the finest lots with low vegetable matter drawing the most attention.

Crossbreeds were in a different realm this week with a mixed bag of price signals straddling last weeks’ price levels, and given the last month of solid rises in the crossbred sector this was a satisfactory result. Cardings posted solid rises of 20c-36c across the selling centres and there was some positive price signals.