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Weekly Market Report

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With Mark Dyson, Managing Director

May 4, 2012

Small offerings help settle market

A RUN of small offerings has helped the wool market to settle at current price levels.

The Eastern Market Indicator closed 5 cents per kilogram higher this week at 1170c/kg clean.

Just over 42,500 bales were put under the hammer, with the pass-in rate nudging 12 per cent.

Most Merino fleece posted small gains, with wools of 20-23 microns attracting most competition from buyers.

Poorer types continued to struggle and were at noticeable discounts to the better wools.

Merino skirtings also followed a similar trend of recent weeks. Lower quality types lost ground, while finer, better styles added up to 20c/kg.

Crossbreds again performed well and fetched an extra 10-15c/kg over the week, even though buyers were more selective with the wools on offer.

Oddments struggled to hold their position, losing around 10-15c/kg after each sale day.

The small national offerings are set to continue next week, with just 35,700 bales scheduled for sale.

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