Weekly Market Wrap
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With Adrian Field, Melbourne
Trading Manager
April 7, 2006
Market dips, but not bad news
THE eastern market indicator fell 10 cents per kilogram this week to close at 728c/kg.
Although this is a sizeable drop, most of the falls were recorded in poorer type wools and those with high vegetable matter.
Best top making Merino fleece wools were only slightly weaker.
Of the 67,409 bales offered, 21.9 per cent was passed in.
Southern Region
All Merino fleece types eased about 10c/kg, apart from 18 micron and finer types which remained solid.
Merino skirtings eased slightly, with poorer types again most affected.
Crossbred fleece also eased about 10c/kg, as did carding wools.
A total 50,000 bales are rostered for next week, where two-day sales will be held in Melbourne and Sydney.
The need for orderly marketing has been highlighted again following recent sales with high quantities and the fact that there are almost 30,000 bales rostered for Melbourne over the two days.
How can we expect to see good market support when sales get flooded with wool?
The trend is likely to continue next week, where the market could struggle, particularly for poorer styled wools.
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