Weekly Market Wrap
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With Adrian Field, Melbourne
Trading Manager
July 14, 2006
Pre-recess trend continues
THE trend of a weaker market prior to the annual mid-year recess from sales continued this week.
The final sale for the selling season saw the eastern market indicator ease 5 cents to close at 744c per kilogram.
The strengthening of the Australian dollar, combined with the fact that many exporters had filled orders, were the main reasons for the weaker activity.
Sales were held in Melbourne only, and of the 25,371 bales offered, 17.1 per cent was passed in.
Most categories eased, with fine Merino fleece types most affected.
Southern region
Merino fleece wools finer than 19-micron fell 15-20c/kg. Remaining microns also eased, apart from 22-micron types which strengthened slightly.
Merino skirtings eased 5-10c/kg, while crossbred fleece wools and cardings fell by about 5c/kg.
There are no sales for the next two weeks and no sales in Melbourne for three weeks.
Sales recommence on August 1 in Sydney and Fremantle.
We look forward to a more buoyant market next season, where demand is expected to strengthen in the second half of this calendar year.
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