Weekly Market Wrap
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With Adrian Field, Melbourne
Trading Manager
February 23rd, 2007
Market subdued
THE eastern market indicator fell a further 10 cents per kilogram this week to close at 908c/kg.
Business was again subdued due to the Chinese New Year celebrations combined with the strong Australian dollar.
Of the 63,627 bales offered, 12.1 per cent were passed in.
Merino fleece wools were again most affected.
Southern region
Most Merino fleece types dipped by about 10c/kg, with broad Merino wools most affected.
Merino skirtings remained solid and crossbred fleece wools showed very little change overall. Cardings actually strengthened slightly.
Next week's sales will be held in Melbourne, Sydney and Fremantle, with 74,500 bales rostered for sale. About 5000 bales will be offered from New Zealand.
Hopefully the Australian dollar will not continue to strengthen next week. The large offering will already be enough to test the market.
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