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Weekly Market Report

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With Mark Dyson, Managing Director

July 1, 2011

Market eases slightly

THE wool market eased this week, with some types experiencing a price correction after significant rises recently.

The Eastern Market Indicator closed at $1409 cents per kilogram clean, drifting down 27c/kg from last week.

There was little change in US terms due to the currency fluctuation, with the market losing just 1c/kg US.

A total of 26,426 bales were cleared from the 31,351 bales put under the hammer.

The softening demand impacted Merino fleece wools the most, particularly poorer styles.

Medium micron wools of 19-22 micron were most affected, however these types had jumped in price by around 15 per cent since May.

Some considered this a small price correction, especially considering the indicator had gained less than 10pc for the same period.

Merino skirtings continued to enjoy solid demand, with better styles containing low vegetable matter most sought-after. Cotted and discoloured lots were discounted.

Crossbred and oddments also followed their recent trend.

Next week’s offering, excluding Fremantle, has been set at 39,987 bales.

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