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Weekly Market Report

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With Mark Dyson, Managing Director

February 19, 2010

Prices dip slightly as dollar rises

A SLIGHT rise in the Australian dollar had some impact on the wool market this week, but price levels were largely maintained.

The dollar lifted to 89.1 US cents on Tuesday and traded up to 90.1 US cents before easing to 89.6 US cents later in the week.

The Eastern Market Indicator closed at 918 cents per kilogram clean, dipping just 6c/kg.

A total 47,568 bales, including a New Zealand offering, was put under the hammer this week and achieved a 91 per cent clearance.

Merino fleece edged down by about 5-10c/kg, with 19.5-22 micron wools most affected.

Crossbred wool prices also slipped a little this week, with larger volumes now hitting the market, however demand for skirtings was strong again.

China, of course, remained the powerhouse in the auction rooms, although European buying activity continues to strengthen and India and Taiwan are maintaining solid support.

A similar national offering of 47,456 bales has been rostered for next week.

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