Weekly Market Wrap

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With Adrian Field, Melbourne
Trading Manager

July 15, 2005

Market eases as dollar strengthens

THE final sale before the annual mid-year recess was held in Melbourne this week.

A little more than 21,000 bales were offered, of which 11 per cent was passed in.

The southern indicator fell 18 cents per kilogram, causing the eastern market indicator to shed 8c/kg to close at 727c/kg

Most Merino fleece types eased 10-20c/kg, with 23 micron wools hit hardest and decreasing by up to 23c/kg.

Merino skirtings were fully firm, with better, longer types fetching an extra 10c/kg.

Crossbred wools of 28-32 microns dipped 10-15c/kg, while 25-27 micron types remained unchanged. Cardings lifted by about 5c/kg.

Melbourne sales are now in recess for the next three weeks and Sydney sales will re-commence in two weeks.

It is difficult to predict the market trend for when sales resume, however industry sentiment is for little change.

There is generally reduced activity throughout this period, but there is always the chance of increased trading, particularly if the currency has large fluctuations.

The big interest for the coming season is the commencement of sales at the new AWH selling facility at the Brooklyn complex and the response it receives from the rest of the industry.

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