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Weekly Market Report

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With Mark Dyson, Managing Director

April 30, 2010

Aussie dollar, wool market hold steady

A SLIGHT dip in wool demand resulted in an easing market this week, with the Eastern Market Indicator shedding 8 cents per kilogram to close at 876c/kg clean.

Chinese buying was still a little sluggish compared with the recent trend and buyers for India have been more subdued. India was fourth in the pecking order this week behind China, Europe and Taiwan.

Strong buying for China in the first quarter this year has built up the country's stocks, however, its demand is expected to increase again shortly.

A total 38,877 bales were put under the hammer this week, with just over 16 per cent of the offering passed-in.

The Australian dollar continued to hover around the 92 US cent mark.

Most affected among the fleece wools were those in the 19-20 micron range.

Surprisingly, skirtings also took a hit this week, while cardings and oddments drifted as well after a solid trend in sales this year.

Crossbred wools enjoyed some small price gains, with the exception of coarser types.

The trade is anticipating higher demand levels again at coming sales.

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