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Weekly Market Report

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With Mark Dyson, Managing Director

May 27, 2011

Market forces send prices to record highs

THE forces of demand and supply were well in play in the wool market again this week, pushing the Eastern Market Indicator another 20 cents per kilogram higher to a record 1384c/kg clean.

This nudged the 1383c/kg reached in late March.

The market followed suit in US terms, notching a record 1464c/kg US.

The fluctuating currency has resulted in significant differences in the size of market increases over the selling season.

Since July 1 last year, the Indicator has climbed 54 per cent in local currency and a whopping 91pc in US dollars.

Just over 32,000 bales were put to auction this week and achieved close to 92pc clearance.

Buyers were again keen on medium micron Merino fleeces, particularly in the 20-22 micron range.

Some new season fleeces were noticed in the market this week, helping to improve the quality of the offering.

Competition for skirtings lifted again, driven by a better quality selection on offer. Prices for good 19 micron types gained up to 60c/kg.

However, it was not the same story for oddments, with the subdued interest of recent weeks continuing to prevail.

A total 36,552 bales has been rostered for sale nationally next week.

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