Weekly Market Wrap

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With Adrian Field, Melbourne
Trading Manager

April 14, 2005

Large offering puts pressure on prices

The eastern market indicator fell six cents per kilogram this week to close at 730c/kg.

Prices for fine and broad Merino fleece types were most affected.

The large offering appears to be the main reason for the weaker market, with the Australian dollar being stable.

Passed-in rates were recorded at 12.8 per cent.

New Zealand had a large offering, of which 50pc comprised re-offered wool. About 30pc was passed-in.

Prices for Merino fleece of 18.5-19.5 microns and 23-24 microns lost 10-15c/kg, with some lots falling up to 20c/kg. Prices for remaining microns fell about 5c/kg.

Merino skirtings were less affected, but also dipped by about 10c/kg.

Crossbred wools actually strengthened, with some types increasing by up to 5c/kg.
Cardings also gained a little.

Next week's sales will be held in Fremantle, Sydney and Melbourne, with a little more than 71,000 bales rostered for sale.

Little change in the market is anticipated.

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