Weekly Market Wrap
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With Adrian Field, Melbourne
Trading Manager
June 18, 2004
Market continues to strengthen
THE eastern indicator continued to rise this week closing
at 821cents per kilogram, a rise of 7 cents compared to last
week.
Most of the movement came from 21 to 23 micron Merino fleece
categories where some types were up 30c/kg.
All remaining types received good support and every category
recorded higher prices.
Again, the common recipe for such results was the combination
of the lower Australian dollar and a shortage of wool.
Similarly to last week, a low passed-in rate of 10.5 per cent
was recorded.
Outlook
NEXT week's sales will be the lowest volume on offer for
the season and that fact alone has helped push prices upwards.
Sales will be held in Melbourne and Sydney and the combined
total on offer is a little over 34,000 bales.
Prices next week are expected to be fully firm and possibly
higher due to the short supply.
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Trading
Manager Adrian Field
takes a look back - for a better wool
future!
Read more... |
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