EMI tumbles to 1110¢ during the last sale of the season
The last wool sale of the 2019-20 season brought little joy to woolgrowers, with the Eastern Market Indicator falling 29¢ to close 1110¢/kg clean
The EMI has tumbled 32 per cent since the strong opening of 2020, closing down slightly cheaper this week, the last auction of the 2019-20 season.
While the majority of wool auction lots sold well under the 1000¢/kg greasy price at today’s sale at the Western Wool Centre, there were some featured top-priced lots.
Nutrien auctioneer Mark Goodall said the good-yielding consignment from the Rintoul family, of Dongiemon stud, at Williams, found competitive bidding.
The Rintouls sold to a top of 1160¢/kg greasy for a consignment of 16.8 micron wool which had a yield of 72.8 per cent.
Techwool Trading representative Russell Fraser said it was a disappointing end of the season and attributed the poor result to COVID-19.
“It started soft with a few false price increases, but overall had a lack of demand,” he said.
“December and early January were positive but then COVID-19 hit.”
Mr Fraser said the industry hoped the price would improve in coming months.
Full report in next week’s Countryman.
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