Weekly Market Wrap
For the latest edition, please Refresh
frequently visited pages.
With Adrian Field, Melbourne
Trading Manager
September 10, 2004
Weaker dollar strengthens market
The eastern market indicator increased 5 cents per kilogram
this week to close at 780c/kg.
Most price gains were recorded in Merino cardings, with
some types jumping by up to 30c/kg.
Merino fleece types were generally unchanged, except for
20 micron and finer wools, which strengthened about 5c/kg.
Most Merino skirtings remained fully firm and crossbreds
gained about 10c/kg.
The only wools that struggled slightly were 21-24 micron
fleece wools.
Passed-in rates were again very low, finishing at just over
10 per cent.
Wool offerings are continuing to exceed last year's levels,
with each week consistently averaging about 5000 bales more
than the same time last year.
This is an interesting statistic and suggests that maybe
more wool is coming through the system, rather than being
held.
There seems to be more producers who are willing to meet
the market, which also explains why passed-in rates are low.
Next week's sales will be similar to this week, with a total
of 67,245 bales on offer in all three centres.
With the Australian dollar weakening further, the market
should continue to strengthen.
|
