Weekly Market Wrap

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With Adrian Field, Melbourne
Trading Manager

October 13, 2006

Market recovers

THE eastern market indicator (EMI) gained 4 cents per kilogram this week to close at 741c/kg.

Of the 61,992 bales offered, only 10.8 per cent was passed in.

Southern region prices improved in most categories, apart from 25-micron and broader wools, which eased 5-10c/kg.

Southern region

All Merino fleece types finer than 24-micron improved 5-10c/kg, with 22-micron wools the biggest improver.

Merino skirtings remained solid, with poorer styled wools improving, while crossbred fleece wools dipped 5-10c/kg, with 31-micron and broader types most affected. Carding wools increased 5-10c/kg.

Sales will be held in Melbourne, Fremantle and Newcastle next week, with 62,826 bales rostered to go under the hammer.

The market should remain very solid and possibly strengthen again. There is real concern that we may be heading into one of the worst droughts on record, and this will no doubt have some affect on the market unless conditions alter soon.

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