Weekly Market Report
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With Mark Dyson, Managing Director
June 17, 2011
Firming trend continues
THE wool market is showing no signs of pulling up from its firm trend.
The Eastern Market Indicator gained another 11 cents per kilogram this week to push the record out to 1431c/kg clean.
In US terms it was a similar rise to 1513c/kg US.
A total 26,489 bales were put under the hammer and achieved a 92 per cent clearance.
Strong demand for quality wool types was again noticeable, with buyers appearing to target specific styles to meet their short-term requirements.
Price rises were more across the board this week, rather than medium wools enjoying the limelight like at recent sales.
There was an increase of new-season wool, particularly finer lines, at the Melbourne sales.
The good support for skirtings, crossbreds and oddments also continued, with better length skirtings jumping 20-40c/kg. Crossbred wools fetched an extra 10-20c/kg.
Whilst China maintained its superior buying, India played a stronger hand at sales this week.
Next week’s offering has been set at 22,714 bales, with no sale in Fremantle.
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