Weekly Market Wrap
For the latest edition, please Refresh
frequently visited pages.
With Adrian Field, Melbourne
Trading Manager
October 1, 2004
Market takes a dive
THE eastern market indicator fell 23 cents per kilogram
this week to close at 744c/kg.
The dip followed another rise in the Australian dollar late
last week and early this week.
Fine wools, despite the fact they are still receiving reasonable
premiums, were also hit this week, with most fine combing
types decreasing by up to 20c/kg.
Combing wools of 22 micron fell by almost 30c/kg and crossbred
wools eased slightly, with the exception of 30 micron types
that dropped by 15c/kg.
Carding wools continue to sell very well, which is mainly
due to shortage in supply. The carding wool market is often
a very different market to combing wools. Most carding wools
are processed (scoured/carbonised) within Australia, which
means a different pattern to trading and exporting compared
with normal greasy combing types.
The price gap continues to close between microns, with now
only about 300c between 21 and 32 micron wools.
Passed-in levels reached 22 per cent this week, which was
not bad considering the big fall in prices.
New Zealand Merino Company this week had there biggest offering
to date, which comprised very stylish fine and superfine wools.
Unfortunately, there was a massive passed-in rate of 52 per
cent on the catalogue. This result did not resemble market
levels of the day. Overall, prices offered were very reasonable
compared with the equivalent Australian types.
This was a poor result and the future of selling New Zealand
wool in Australia looks bleak unless producers are more willing
to accept market price of the day.
With the Australian dollar still on the rise, the outlook
for next week is not promising.
However, we all know how quickly things can change.
The wool volume scheduled for sales next week is the lowest
in 10 weeks - Melbourne is holding a 2-day sale.
|
|
| |
| |
 |
 |
 |
|
|
Trading
Manager Adrian Field
takes a look back - for a better wool
future!
Read more... |
|
|
|
|
|
|
