Weekly Market Report
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With Mark Dyson, Managing Director
March 9, 2012
Wool market steadies with decline in dollar
WOOL auctions started sluggishly again this week before a dip in the Australian dollar inspired healthier demand.
The Eastern Market Indicator added 3 cents per kilogram to finish at 1216c/kg clean.
A total 49,723 bales were put under the hammer, with the pass-in rate a little higher this week at just under 12 per cent.
The Australian dollar fell 1.5 US cents during the week to just over 105 US cents.
There were minor price falls in the Merino fleece catalogue in Melbourne on Tuesday, particularly for finer lines, while medium micron types managed to gain some ground.
Prices strengthened across all Merino fleeces toward the end of sales, with 21-micron types hogging the spotlight and increasing by 25-30c/kg.
Better style Merino skirtings followed suit, however poorer quality types attracted discounts.
Crossbreds mirrored the trend of falling earlier in the week before recovering later, while oddments posted small gains.
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