Weekly Market Wrap

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With Adrian Field, Melbourne
Trading Manager

December 8, 2006

Market holds

THE eastern market indicator remained unchanged this week to close at 825 cents per kilogram.

There were mixed results, with prices rising for some types and falling for others.

Passed-in rates were recorded at 11.4 per cent of the 67,410 bales offered.

Southern region

Merino fleece types finer than 19 micron dipped 10c/kg, while 22-24 micron wools strengthened 10c/kg.

Merino skirtings remained unchanged. Broader crossbred fleece wools recovered by 10c/kg, while remaining microns as well as cardings were also unchanged.

Next week's sales, the last for the calendar year, will be held in Melbourne, Fremantle and Sydney, with 67,500 bales scheduled to go under the hammer.

Hopefully the market will be solid heading into the Christmas break.

Demand is still reasonably solid, so the market should be stable. If this is the case, the industry will be positioned for a good start to the new year.

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