Weekly Market Wrap

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With Adrian Field, Melbourne
Trading Manager

July 8, 2005

Market recovery continues

THE eastern market indicator continued to climb this week to close at 735 cents per kilogram, a rise of 17c/kg.

The main reason for the market lift was the continued weakening of the Australian dollar.

Passed-in rates were the lowest seen in months, accounting for just 5.3 per cent of the 68,000 bales offered.

Similar to last week, there were large price gains in all combing types.

All Merino fleece wools jumped 10-20c/kg. Skirtings gained about 20c/kg, with poorer styled wools improving as well.

Crossbred wools fetched about 10c/kg extra and 28-30 micron types increased by up to 20c/kg.

Carding wools recovered sharply this week, with most types gaining up to 10c/kg.

Next week's sales will be held in Melbourne only, with Fremantle and Sydney commencing their annual three-week selling break.

The market should remain much the same, with the Australian dollar again dictating price movements.

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