Weekly Market Wrap
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With Adrian Field, Melbourne
Trading Manager
February 16th, 2007
Market falls during Chinese New Year
THE eastern market indicator dipped 12 cents per kilogram this week to close at 918c/kg.
A total 73,411 bales were offered, with 14.6 per cent passed in.
Fleece wools between 18 and 21 microns were most affected.
Southern region
Merino fleece prices fell sharply, with 18, 20 and 21-micron wools shedding 10-20c/kg.
Merino skirtings eased slightly and crossbred fleece wools also eased slightly overall, with 29-micron and finer types falling 10c/kg and 29.5-micron and broader gaining 10c/kg.
Cardings remained firm overall after prices fluctuated throughout the week.
Next week's sales will be held in all three States and will include Newcastle, which will hold its last sale for the season.
The rostered offering is scheduled as 66,153 bales.
The big offerings combined with the rising Australian dollar and the Chinese New Year dampened the market this week.
Little change is anticipated next week.
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