Weekly Market Wrap

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With Adrian Field, Melbourne
Trading Manager

July 1, 2005

Market recovers some ground

A SMALL offering and weakening Australian dollar combined to kick prices at this week's sales.

The eastern market indicator closed at 718 cents per kilogram, a rise of 11c/kg.

This was the most significant rise recorded in several weeks and was a pleasant change.

Passed-in rates were fairly low and accounted for 11.8 per cent of the 46,000-bale offering.

Strong gains were made in all combing types, especially Merino fleece. Carding wools actually weakened slightly.

All Merino fleece types jumped 10-20c/kg, with finer types showing recovery and middle microns continuing to receive solid support.

Better styled, longer, finer skirtings fetched up to 20c/kg more, while poorer styled skirtings remained firm.

Crossbred wools increased by about 5c/kg overall, with 27 and 30 micron wools the biggest movers.

Similar to last week, most carding wools dipped about 5c/kg, with Merino stains again most affected.

Next week's sales will be held in Melbourne, Fremantle and Sydney, with a total offering of just over 60,500 bales rostered. It will be the second last sale prior to the annual sale recess.

The market should remain similar depending on the Australian dollar.

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