Weekly Market Wrap
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With Adrian Field, Melbourne
Trading Manager
April 5th, 2007
Market holds before recess
THE eastern market indicator held up well this week to close at 937 cents per kilogram, a rise of 4c/kg.
This was a very good result considering the high Australian dollar. The dollar did weaken a little on Tuesday, but went up again yesterday afternoon and this morning.
Of the 46,593 bales offered, only 8.8 per cent was passed in. It was suspected that most people thought the market would be a little weaker overall.
Southern region
Merino fleece types remained firm to tending stronger, with 21-23 micron wools recovering from last week to gain up to 15c/kg.
Merino skirtings increased by about 10c/kg overall, with some of the finer types and faulty types jumping 20c/kg.
Crossbred fleece wools remained very solid, with middle microns lifting by 5c/kg.
Cardings continued to get stronger, with most types gaining 5-10c/kg.
We head into the Easter recess next week, so there will be no sales. The following week will see sales in all three centres
Happy Easter!
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