Weekly Market Wrap
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With Adrian Field, Melbourne
Trading Manager
June 10, 2005
Reduced competition lowers prices
THE eastern market indicator slipped 11 cents per kilogram
to close at 713c/kg this week, with 15.5 per cent of the offering
passed-in.
Although the Australian dollar did rise marginally, the main
reason for the dip was a lack of competition.
The most concerning aspect was the fact that this week's
offering was the smallest for the year at just under 35,000
bales nationally.
BWK Elders was noticeably very quiet again, as well as several
other firms.
Large price falls were recorded in several categories this
week, especially for combing wools finer than 19 microns.
Prices for Merino fleece of 19 microns and finer fell 10-30c/kg,
while 20.5 micron and broader wools lost about 10c/kg.
Most Merino skirtings followed a similar trend, with finer
wools most affected. Remaining types were irregular and overall
fell about 10c/kg.
Crossbred wools were only slightly cheaper, apart from 27-29
micron types which shed up to 15c/kg.
Carding wools fell 5-10c/kg, with crossbred lambs wool most
affected.
Meanwhile, there was some interesting reading in the rural
newspapers this week, particularly the Stock and Land.
The issues surrounding AWH's bold move to sell their wool
in a separate centre was interesting.
There's also plenty happening in regards to putting out flames
created by PETA, as well as information regarding upgraded
spending for advertising and promotion of wool.
Next week's sales will be held over two days in all three
centres, with just under 54,000 bales rostered for sale.
The market appears to have just about found its new level,
although demand is still subdued.
Little market change is anticipated.
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Trading
Manager Adrian Field
takes a look back - for a better wool
future!
Read more... |
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