Weekly Market Wrap
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With Adrian Field, Melbourne
Trading Manager
September 21st, 2007
Supply concern drives market
THE eastern market indicator jumped another 17 cents per kilogram this week to close at 933c/kg.
Again, this was a surprising result considering the Australian dollar continued to strengthen throughout the week, finishing at .865 US cents.
The shortage of wool beyond the busy months is obviously a real concern to buyers.
Of the 53,181 bales offered, only 5.1 per cent was passed in.
The market was similar to last week, where most types increased apart from broad crossbred wools.
Southern region
Nearly all Merino fleece microns gained 5-10c/kg. Wool of 20 microns was the biggest mover, with a 25c/kg rise.
Merino skirtings remained firm again. Most microns actually increased slightly.
Crossbred fleece types eased slightly overall, while cardings were the real mover for the week. Most types gained 30c/kg.
Sales will again be held in all three centres next week, with about 56,700 bales on offer.
The market trend is interesting. A fall could be expected as a result of the strong Australian dollar, but the shortage of wool is keeping demand high.
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 September 14, 2007 |
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