Weekly Market Wrap
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With Adrian Field, Melbourne
Trading Manager
June 8th, 2007
Have we seen the top?
THE eastern market indicator dipped 18 cents per kilogram this week to close at 988c/kg.
This week was a real test for the market, with wool volumes very low and the currency very strong.
The easing probably would have been less if the Australian dollar had not increased 1 US cent on last week.
Yet again, the biggest mover this week was fine Merino fleece. Unlike previous weeks however, the movement was down - most wools finer than 19.5-micron shed 20-30c/kg.
Understandably, the passed-in rate jumped to 11 per cent.
Southern region
Merino fleece 19.5-micron and finer dipped 20-30c/kg, 20-21 micron wools fell 10c/kg, and 22-23 micron types lost 5 c/kg.
Merino skirtings fell by 10-20c/kg, with the finer end most affected.
Crossbred fleece wools were slightly cheaper overall, while cardings were fully firm on a very small offering.
A total of 50,600 bales have been rostered for sale next week, with all three centres selling.
There was anticipation that the market correction was not too far away, and the strong Australian dollar supported it.
Unless the dollar decreases 1-2 per cent, the market could still be subdued, especially with the increase in the wool offering.
| RECENT ISSUES |
 June 1, 2007 |
| May 25, 2007 |
| May 18, 2007 |
| May 11, 2007 |
| May 4, 2007 |
| April 27, 2007 |
| April 20, 2007 |
| April 5, 2007 |
| March 30, 2007 |
| March 23, 2007 |
| March 16, 2007 |
| March 9, 2007 |
| March 2, 2007 |
| February 23, 2007 |
| February 16, 2007 |
| February 9, 2007 |
| February 2, 2007 |
| January 26, 2007 |
| January 19, 2007 |
| January 12, 2007 |
| December 15, 2006 |
| December 8, 2006 |
| December 1, 2006 |
| November 24, 2006 |
| November 17, 2006 |
| November 10, 2006 |
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