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Weekly Market Report

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With Mark Dyson, Managing Director

August 17, 2012

Prices track downward

THE wool market continued to drift this week, with the Eastern Market Indicator shedding another 46 cents per kilogram to close at 949c/kg clean.

Just over 40,000 bales were put to auction and the pass-in rate jumped by another 1.4 per cent to more than 23pc.

The Australian Dollar fell by more than 1 cent against the Greenback, putting the fall at 61c/kg in US terms.

All microns in the fleece catalogue took a dive – “and they were not staging’’!

Prices dropped 20-30c/kg each sale day, with some respite on the final day in Melbourne, when broader types edged downward just 5-10c/kg.

Finer wools were again in the gun, with 17-micron types most affected.

Merino skirtings followed the trend, although there was some encouragement and recovered territory later in the week. Some types even firmed slightly.

Crossbreds also improved toward the end of sales, however prices still decreased by around 30c/kg.

Carding types followed suit to fall by about 30c/kg each day.

The national offering is set to fall back to around 38,000 bales next week.

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