Week ending: 28 April 2016
There was a sharp reversal in the market last week as the exchange rate continued to play havoc with local pricing. As a result the NRI gained 23 cents, recovering most of the losses from the previous week. Merino Fleece types lifted fairly equally each sale day, resulting in gains of 40 to 50 cents clean for most microns.
Merino Fleece types with more than 1% vm accounted for 53.5% of the national catalogue this week (a 2 year high), and as a result discounts are now emerging. Merino Skirtings also showed the effects of increasing vegetable
matter, with <3% vm lots maintaining good support while those with higher percentages tended to struggle.
Merino Cardings closed largely unchanged, apart from Fremantle which firmed 11cents. Volumes are expected to hover between 35,000 and 38,000 over the next 3 weeks.