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Weekly Market Report

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With Mark Dyson, Managing Director

December 3, 2010

Early dip before recovery

WOOL prices edged downward again early this week before recovering toward the close of sales.

The Eastern Market Indicator finished the week at 1014 cents per kilogram clean – a gain of 3c/kg on last week.

Uncertainty in several global markets has continued to put an air of caution in the auction rooms.

Chinese buyers helped pick up the pace in the market toward the end of the week, while the strong demand from India continued and European and Korean buyers also were active.

The Australian dollar dipped slightly compared with last week, from 97.8 to 96.7 US cents.

A total 57,625 bales were put under the hammer, with about 13 per cent of the catalogue passed-in.

Finer wools took a hit at early sales this week. Wools of 19 microns in Melbourne drifted by around 15c/kg, but there was some recovery later, with 19.5 micron types then gaining about 30c/kg.

Skirtings followed a similar trend, edging downward before clawing back the territory, while crossbreds and oddments maintained their price levels. Some crossbred wools enjoyed price increases of around 5c/kg.

A total 58,315 bales has been rostered for auction nationally next week.

The market is expected to maintain current levels.

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