Weekly Market Wrap
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With Adrian Field, Melbourne
Trading Manager
August 24th, 2007
Upward, then downward
THE eastern market indicator jumped early this week before sliding a little on the final day. It still closed 10 cents per kilogram higher at 935c/kg.
The Australian dollar was the major factor, weakening and then strengthening nearly 2 per cent.
Of the 42,840 bales offered, 7pc was passed-in.
The biggest movers for the week were crossbred fleece and cardings.
Southern region
All Merino fleece microns fell slightly overall. Earlier in the week most types gained a few cents.
Merino skirtings climbed about 30c/kg for the week and remained solid for both days.
All crossbred fleece improved again, especially the finer end, with 25-29 micron types jumping 20c/kg.
Cardings also received good support, especially on the last day. Most types increased 25c/kg.
Sales will be held in all three centres next week, with a little over 50,000 bales rostered for sale.
The trend is simply a matter of currency - if it keeps going up, the market will keep drifting.
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