Weekly Market Wrap
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With Adrian Field, Melbourne
Trading Manager
June 22nd, 2007
Price falls continue
THE eastern market indicator fell 29 cents per kilogram this week to close at 956c/kg. The market is now 69c/kg below its peak in late May.
This week was always going to provide a true indication of market levels. A little concerning, considering there were only 26,289 bales on offer.
The strong Australian dollar, combined with the fact that more wool will be on offer next week, contributed to the price slide.
The fact that Chinese mills are being closely looked at for effluent problems is not helping the situation.
A total 14.7 per cent of the offering was passed in.
Sales were held in Sydney and Melbourne and the trends were similar.
Fine Merino fleece was most affected, whilst fine crossbred wools were solid.
Southern region
Fine Merino fleece fell 30-50c/kg, while medium to broad Merino wool dipped 10-20c/kg.
Merino skirtings were very similar to fleece, where the finer end suffered the most. Falls of 10c/kg and 30c/kg were recorded.
Fine crossbred fleece remained solid, while 30-micron and broader wool shed 15c/kg.
Cardings eased slightly.
There are more than 61,000 bales rostered for sale next week. I doubt whether there will be much improvement considering the massive jump in the offering.
The market is expected to weaken a little further.
| RECENT ISSUES |
 June 15, 2007 |
| June 8, 2007 |
| June 1, 2007 |
| May 25, 2007 |
| May 18, 2007 |
| May 11, 2007 |
| May 4, 2007 |
| April 27, 2007 |
| April 20, 2007 |
| April 5, 2007 |
| March 30, 2007 |
| March 23, 2007 |
| March 16, 2007 |
| March 9, 2007 |
| March 2, 2007 |
| February 23, 2007 |
| February 16, 2007 |
| February 9, 2007 |
| February 2, 2007 |
| January 26, 2007 |
| January 19, 2007 |
| January 12, 2007 |
| December 15, 2006 |
| December 8, 2006 |
| December 1, 2006 |
| November 24, 2006 |
| November 17, 2006 |
| November 10, 2006 |
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