Weekly Market Wrap
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With Adrian Field, Melbourne
Trading Manager
October 6, 2006
Mixed results
THE eastern market indicator (EMI) fell only 2 cents per kilogram overall this week, but there were mixed results between Sydney and Melbourne. The closing indicator was 737c/kg.
Melbourne gained 4c/kg, while Sydney dipped 11c/kg.
Of the 49,481 bales offered, passed-in rates were recorded at 14.2 per cent.
Southern prices showed little change overall, although 18-micron and finer wools continued to improve.
Southern region
Merino fleece types finer than 18-micron jumped about 20 cents per kilogram, while most remaining microns showed little change. Wools of 21-22 micron weakened slightly.
Merino skirtings remained relatively unchanged, with newtons per kilotex and vegetable matter becoming more significant in determining price.
Crossbred fleece wools and carding wools also remained unchanged.
Sales will be held in Melbourne, Fremantle and Sydney next week, with 65,641 bales rostered for the week.
Little market change is anticipated, despite the considerable wool volume on offer.
With the weaker Australian dollar and concerns over drought having an affect on wool production, prices should remain steady.
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