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Weekly Market Report

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With Mark Dyson, Managing Director

April 1, 2011

Wool market settles

THE wool market settled this week, with the Eastern Market Indicator closing at 1383 cents per kilogram clean, rising just 4c/kg.

However, it was a bolter again in US dollars, buoyed by the Australian dollar climbing from around 101 to 103 cents against the Greenback. In US terms, the market increased by 31c/kg to soar to 1427c/kg.

Close to 48,000 bales were put under the hammer, with about 8 per cent of the offering passed-in.

Medium micron wools, particularly 19.5-22 micron types, again attracted most of the attention.

Chinese buyers are increasingly opting for broader wools and there was a large buy-up of finer stocks at earlier sales this season.

Weather conditions have continued to impact on the quality of skirtings, causing discoloration and discounting in the auction rooms. As a result, pass-in rates have been high.

Demand for crossbred wools continued to be solid, with the exception of 32 micron types, which took a significant hit. However, these wools have posted big gains in recent weeks.

The positive trend continued for oddments and Merino cardings also received price increases in the order of 10pc.

Just over 49,000 bales has been rostered for sale nationally next week.

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