Weekly Market Wrap
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With Adrian Field, Melbourne
Trading Manager
December 1, 2006
Prices remain steady
THE eastern market indicator fell only 1 cent per kilogram this week to close at 825c/kg.
This was good news considering the sharp fall last week and the forecasted large offerings heading toward the Christmas recess.
Passed in rates also dropped sharply, with 12.9 per cent of the 62,662 bales offered passed in.
Most types eased apart from cardings and 21 micron and 26 micron wools, which actually increased in value.
Southern region
Most Merino fleece types eased slightly apart from 21 micron types, which strengthened about 5c/kg.
Merino skirtings actually increased overall.
Broader crossbred fleece wools fell another 10c/kg, while finer types remained solid.
Carding wools strengthened by about 5c/kg.
Next week's sales will be held in Melbourne, Fremantle and Sydney, with more than 72,000 rostered for the week.
Surprisingly we experienced a pretty good market this week, considering the large forecasted offerings.
Market activity was poor early in the week, but prices had recovered by yesterday.
Enquiry from overseas is still quite active, so it will be interesting how the large offering affects prices.
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