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Weekly Market Report

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With Mark Dyson, Managing Director

April 20, 2012

Large offering drags wool market lower

A LARGE offering following the Easter recess dragged the market 26 cents per kilogram lower to 1165c/kg clean this week.

A total 55,594 bales were put under the hammer, with the sluggish demand causing the pass-in rate to remain high at 15.4 per cent.

Most wool types drifted, with finer lines affected the most.

Wools of around 16.5 to 17 microns lost about 60c/kg.

Falls for other wools were less pronounced, generally ranging from 10-30c/kg.

However, values improved in Melbourne toward the end of sales this week, providing some confidence for the period ahead.

Merino skirtings prices had a similar fate as the fleece catalogue and took a dive. Some types lost nearly 100c/kg, which resulted in a high pass-in rate in this section.

Crossbred wools were mostly steady, with only minor changes

reported in the Micron Price Guides.

Oddments finished in positive territory in Melbourne, which was encouraging compared with the other selling centres.

The auction offering next week will be significantly lower, with 41,616 bales rostered for sale.

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