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Weekly Market Report

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With Mark Dyson, Managing Director

October 1, 2010

Market strength encouraging

THE healthy tone of the wool market continued this week, when, despite a surging Australian dollar, the Eastern Market Indicator gained another 9 cents per kilogram to finish at 875c/kg clean.

The dollar jumped from 95.6 to more than 97 US cents before settling back to 96.7 US cents at the end of the week. This equated to significant market gains in US dollar terms.

The Australian dollar has been steadily climbing for some weeks now, however, the wool market also has posted good gains during this time, which is very encouraging.

The firming trend and price increases this week resulted in a low pass-in rate of just over 5 per cent from the 40,861 bales put under the hammer.

With the exception of crossbred wools, all categories enjoyed increased demand and higher prices.

Oddments came back into favour this week too and moved into positive territory after drifting at recent sales.

Buying activity followed the usual trend, however, renewed interest across the trade was particularly noticeable this week.

Next week’s national offering is expected to edge upwards to 46,367 bales.

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