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Weekly Market Report

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With Mark Dyson, Managing Director

July 13, 2012

Market eases as volume jumps at final sales

A SIGNIFICANT jump in the national wool offering this week coincided with an easing market at the final sales prior to the three-week mid-year recess.

The national offering climbed by more than 15,000 bales to hit 47,832 bales, of which about 11 per cent was passed in.

The Eastern Market Indicator closed down 15 cents per kilogram to settle at 1062c/kg clean.

Medium wools were most affected by the downturn, especially 19-20 micron types.

There also were significant discounts of 40-60c/kg for 21 micron and finer wools, which accounted for much of the increase in the national volume this week.

Merino fleece broader than 22 microns was shorter in supply and faired better, with solid competition. Some types in this selection actually moved into positive territory.

There were similar results at the other end of the spectrum, with ultrafine wools up to 16.5 microns enjoying the spotlight and finishing stronger than last week.

Better style skirtings continued their good run as well, with finer, higher quality types posting gains of 10-15c/kg. Lots with 3-6pc vegetable matter content also managed to hold steady, while poorer skirtings lost a little ground.

A smaller catalogue of crossbred wools resulted in a reasonably stable market in this sector and it was a similar story for oddments, although there was a slight softening on the final day of sales.

Wool sales are set to resume in the week commencing August 6.

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