Weekly Market Wrap
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With Adrian Field, Melbourne
Trading Manager
October 20, 2006
Medium micron prices kick
THE eastern market indicator jumped 14 cents per kilogram this week to close at 755c/kg.
Passed-in rates were understandably low. Of the 58,929 bales offered, only 6.8 per cent was passed-in.
Most of the increases were recorded in the middle to broad Merino fleece types.
Southern region
Merino fleece types of 22-23 micron climbed by up to 30c/kg, while most remaining microns increased 15c/kg. Superfine wool prices remained unchanged.
Merino skirtings strengthened slightly, with faulty types improving the most.
Crossbred fleece wools recovered a little, with 30-micron and broader types fetching an extra 5c/kg.
Carding wools again improved, with most types rising 5-10c/kg.
Sales will be held in Melbourne, Fremantle and Sydney next week, with 62,000 bales rostered for sale.
There's obviously significant concern over a wool shortage due to the drought.
Next week will be interesting, as the following week's forecasted offering is larger than normal. Prices should remain solid, but are unlikely to mirror this week's increases.
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