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Weekly Market ReportFor the latest edition, please refresh this page With Mark Dyson, Managing Director
February 25, 2011 Market momentum continues
THE wool market largely continued its momentum this week, with the Eastern Market Indicator finishing at 1286 cents per kilogram clean – a rise of 32c/kg on last week.
In US terms, it set another record, climbing 38c/kg to 1296c/kg. The Australian dollar edged upwards against the Greenback to 100.8 US cents.
Close to 49,000 bales was put to auction and just 5 per cent of the offering was passed-in.
Merino fleece of 17-19.5 microns was again in demand and fetched an extra 40c/kg on average.
Finer wools eased a little towards the end of sales, with anticipation of a good selection on offer at the final Newcastle sale for the season next week.
The story was not as good for 19.5-24 micron wools in Melbourne, with a large portion of poorer types the main influential factor causing the dampened competition.
However, Merino skirtings remained in strong favour, with 19-20 micron types increasing by around 60c/kg.
Oddments also continued their solid run, with locks and crutchings posting 30c/kg gains, and there was strong demand for crossbred wools, which could have been buoyed by the cancellation of the South Island sale following the Christchurch earthquake.
Crossbred types increased by around 20c/kg. A lack of availability of these wools as a result of the disruptions to sales in New Zealand could further benefit the crossbred market.
Buying activity followed the usual trend, with China dominating sales, but at least facing strong competition from Europe, India and Korea.
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Quality Wool offers a full range of low-cost marketing options to growers, including auction, electronic selling (Wooltrade), private buying, forward contracts, consignment and export. 
Quality Wool also offers a complete range of farm inputs and general agricultural merchandise through our subsidiary, Quality Rural. We are able to offer products at the most competitive prices, delivered promptly and efficiently, and backed by reliable service and support.