Weekly Market Wrap

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With Adrian Field, Melbourne
Trading Manager

March 4, 2005

Positive market signal

THE eastern market indicator gained some ground this week.

The main reason was a slight weakening of the Australian dollar combined with the fact that next week is a small offering.

Passed-in rates were steady at 15 per cent.

In the South
Merino fleece prices increased for all categories, and especially between 19 and 20 microns. Middle to broad wools firmed slightly. Pieces and bellies remained unchanged and crossbred types were similar, with fine and broad microns gaining 5 cents per kilogram and medium microns (28 micron) falling 5c/kg.

Carding wools made up last week's losses, rising about 10c/kg.

In the News

Australian Wool Handlers (AWH), which is made up of Elders, Landmark and Arcadian, has announced that its new selling facilities in Fredrick St, Brooklyn, will be up and running by end of April/early May.

Next week's market should remain solid due to the relatively small offering. About 58,000 bales will be offered in Melbourne, Sydney and Fremantle.

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