RECORDS for wool have continued to break new ground with the Australian Wool Exchange Eastern Market Indicator (EMI) rising another 40c/kg.
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The EMI closed for the week on 1983c/kg at auction sales in Australia this week.
Moses and Son principal, Marty Moses said the new EMI record had pushed all Merino MPG’s into record territory and has the 28 MPG and the MCI at their 99th percentile.
“The supply of wool coming onto the market now relies largely on freshly shorn deliveries which are largely low yielding, and lesser style,” he said.
“There appears to be little or no “held” wool on farm or in brokers’ stores to draw from and over the next three weeks, offerings range between 25,000 and 33,000 bales with an emphasis on further declines as the season draws to a close in seven weeks for the mid-year recess,” he said.
