Weekly Market Wrap

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With Adrian Field, Melbourne
Trading Manager

February 10, 2006

Good news continues

IT is shaping up to be a good year for wool. It's early days, but the market appears to have found a new level of demand and the most promising aspect is increased activity from other traditional markets such as Europe and India.

The eastern market indicator jumped another 25 cents per kilogram this week to close at 729c/kg.

Almost all wool types received good support, with 20 micron and finer wools most sought after.

Passed in rates were again 8.3 per cent.

There are now noticeable price gaps between the microns, for example 18 micron at 1030c/kg clean, 21 micron at 840c/kg and 22 micron at 700c/kg.

Southern Region

All Merino fleece types gained at least 25c/kg, with 18 and 20 micron wool increasing by up to 45c/kg.

Merino skirtings followed suit, with most longer broken types gaining about 30c/kg. Some finer broken types in Tasmania climbed by up to 100c/kg.

Crossbred wools lifted considerably in Sydney, while moderate rises were recorded in Melbourne. Overall rises were about 10c/kg.

Carding types also received solid support, rising by about 10c/kg across the board.

Next week's sales will be held in Sydney, Fremantle and Melbourne, with 75,000 bales rostered to go under the hammer.

The rises of recent weeks have not been anticipated by the trade.

Buyer support is likely to continue, but it is not expected to continue growing at this rate

The larger offering next week will help determine the direction and substance of this market.

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