Weekly Market Wrap

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With Adrian Field, Melbourne
Trading Manager

January 13, 2006

New Year bonus for wool

THERE is some good news to start the year for woolgrowers this week with the eastern market indicator climbing 16 cents per kilogram following the first sales for the calendar year to close at 649c/kg.

The solid demand was widespread, particularly for most Merino types.

Of the 61,795 bales offered, 11.1 per cent was passed in, indicating the good lift in the market.

Nearly all Merino fleece wools received big price premiums, as did Merino cardings.

Southern Region

Merino fleece of 17-20 microns gained about 20c/kg, while 21-25 micron wools fetched an extra 10c/kg.

Merino skirtings also increased by about 10c/kg, with the finer end attracting most demand.

Crossbred wools generally remained unchanged, with the exception of bellies which received large discounts.

In contrast to the final sale before Christmas, carding types enjoyed their biggest price lift for quite some time, jumping about 20c/kg.

Next week's offering is similar to this week, with all three centres operating and 61,000 bales rostered to go under the hammer.

The market is expected to hold steady.

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