Weekly Market Wrap

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With Adrian Field, Melbourne
Trading Manager

September 14th, 2007

Surprising rise

THE eastern market indicator climbed 12 cents per kilogram this week to close at 916c/kg.

This was a surprising result to many, with the Australian dollar strengthening throughout the week. There was also a very large offering on the final day of sales.

Of the 50,083 bales offered, 7.5 per cent was passed-in.

Most types lifted, apart from broader crossbred wool.

Southern region

Most Merino fleece microns increased, especially finer types, with 19-micron wool and finer rising about 20c/kg.

Most skirtings remained firm, with the finer end strengthening slightly.

Finer crossbred fleece increased, but the broader end was weaker.

Cardings remained unchanged overall after a weak start.

Sales will again be held in all three centres next week, with about 55,700 bales set to go under the hammer. Newcastle will hold its second sale for the season.

Another relatively large offering over three days will be a test for the market, but judging by this week's results it could hold steady.

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