Weekly Market Wrap

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With Adrian Field, Melbourne
Trading Manager

February 17, 2006

Market steadies

THE eastern market indicator steadied this week to close 3 cents per kilogram higher at 732c/kg.

Finer wools were actually slightly weaker than last week, whereas stronger wools gained up to 25c/kg.

Passed-in rates were still low at 8.9 per cent.

Southern Region

Finer Merino fleece types dipped a little, compared to the superior Tasmanian selection, while broader Merinos increased by up to 25c/kg.

Merino skirtings remained very solid, with big premiums paid for longer BKN types.

Crossbred wools jumped 10-20c/kg in the south to match last week's Sydney levels.

Carding types remained solid.

Next week's sales will be held in Sydney, Fremantle and Melbourne, where 72,000 bales will be on offer. A large offering of New Zealand wool will be put under the hammer on the Tuesday.

This week's buying activity was very encouraging considering the amount of wool on offer. It appears that the good demand is genuine, so next week's sales should therefore follow a similar trend.

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