Weekly Market Report
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With Mark Dyson, Managing Director
April 5, 2012
Market drifts on larger offering
IT was a softer wool market again this week under the weight of a larger offering nudging 50,000 bales and just a two-day sale week due to the Easter recess.
The Eastern Market Indicator closed the week 21 cents per kilogram lower at 1191c/kg clean.
In US terms, the market fell 31c/kg to 1225c/kg US as the dollar slipped by almost 1c against the Greenback.
The sluggish demand caused the pass-in rate to jump to just over 16 per cent.
All Merino fleece prices dipped 15-30c/kg on the first day of sales.
It was then the largest Merino fleece offering of the season in Melbourne on the second day and this didn’t help the cause.
Finer wools took another 30c/kg plus hit, while 19.5-micron and broader types were discounted 5-10c/kg.
Better skirtings attracted reasonable support, while poorer types were hit hard, with high vegetable matter and faulty lines losing up to 100c/kg.
Crossbred prices drifted to a smaller degree and oddments followed suit.
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