Weekly Market Wrap
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With Mark Dyson, Managing Director
November 6, 2009
Market recovers with small gains
THIS week's wool auctions recovered some of the correction in the market last week, with the Eastern Market Indicator climbing 10 cents per kilogram clean to 867c/kg.
A total 45,597 bales were offered over two selling days this week, with small price gains made throughout the sales.
The Australian Dollar hovered in the 89-91.5 US cent range, adding about 1 US cent compared with last week.
Merino fleece caught most of the attention, with most types increasing by about 20c/kg.
Prices for some medium micron wools eased toward the end of the selling week, but with 21 and 23 micron types holding firm.
Better style skirtings fetched an extra 10-15c/kg this week, with others remaining steady.
Finer crossbred wools performed quite well too, while demand for coarser types was down a little.
Prices for other types remained similar to last week.
In the southern region there was a wide range of wool types and styles on offer, which provided for healthy competition.
Next week, the national wool catalogue is set to grow slightly to around 48,000 bales.
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