Weekly Market Wrap
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With Adrian Field, Melbourne
Trading Manager
August 13, 2004
Wool demand weakens
THE eastern market indicator fell 11 cents per kilogram this
week to close at 788c/kg.
The market fell away sharply on the first day of sales before
finding a level to show little change the following two days.
Wools from 21 to 24 microns were most affected by the downturn,
with prices dipping by up to 20c/kg. Wools of 19 microns and
finer held firm.
Prices for Merino pieces were also steady, but crossbreds
fell by up to 10c/kg. Carding wools remained firm.
A total of 73,981 bales were offered for the week, with 17.9
per cent being passed in.
Poor demand from China, holidays in Europe and a strong Australian
dollar were the factors contributing to the poor market activity.
Next week’s offering is just over 66,000 bales, and
the market is not expected to improve significantly.
The current trend is likely to continue, with finer wools
remaining solid and broader types under pressure.
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Trading
Manager Adrian Field
takes a look back - for a better wool
future!
Read more... |
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