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Weekly Market Report

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With Mark Dyson, Managing Director

February 17, 2012

Wool market treads water

IT was largely a case of treading water for the wool market this week, with the Eastern Market Indicator adding 1 cent per kilogram to close at 1244c/kg clean.

In US terms the market drifted downward by 12c/kg to 1328c/kg US, while the Australian dollar eased by around 1c against the Greenback over the week.

A total 47,418 bales were put under the hammer and just over 8 per cent of the offering was passed-in.

Better style wools gained a few cents, while poorer types moved into negative territory.

The market lost 10-20c/kg on Thursday following the Melbourne-only sales.

Medium wools ranging from 19-23 microns were most impacted, with 22 micron types losing about 25c/kg.

However, it was a different story for crossbred wools and skirtings.

Crossbreds fetched an extra 20-30c/kg, with 26, 28 and 30 micron wools posting significant gains.

Skirtings also recorded good price increases over the week and oddments started strongly before easing.

More than 50,000 bales have been scheduled for auction nationally next week.

Meanwhile, latest wool export data has shown a continued decline in volumes. Exports to all destinations in the first half of the 2011-12 season were down by 10 per cent.

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