Weekly Market Wrap

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With Adrian Field, Melbourne
Trading Manager

May 11th, 2007

Shortage continues to drive market

THE eastern market indicator jumped 22 cents per kilogram this week to close at 962c/kg.

All types enjoyed significant rises, with the exception of broader crossbred wools, which remained firm.

Of the 43,198 bales offered, only 4 per cent was passed in.

Good results were recorded throughout all regions, with Melbourne probably receiving the biggest support.

Southern region

Merino fleece types fetched an extra 15-35c/kg, with 23-micron wools most sought-after.

Merino skirtings gained 20c/kg overall, with finer types the biggest movers.

Crossbred fleece wools jumped 20c/kg in the finer end (27-micron and finer) and remained firm in the broader end, while cardings were about 10c/kg higher.

A total 53,534 bales have been rostered for sale next week.

Prices are unlikely to fall due to the shortage, however there is strong resistance from overseas customers who are unwilling to pay the current prices.

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