Weekly Market Wrap

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With Adrian Field, Melbourne
Trading Manager

March 25, 2005

Market remains stable

THE eastern market indicator lifted 2 cents per kilogram this week to close at 728c/kg.

Although there was an overall rise, prices for most wool types were slightly weaker. Most of the increase was caused by big rises in the 18.5-19.5 micron fleece range.

Passed-in levels were again fairly low, accounting for just under 11 per cent of the offering.

Merino fleece types were generally between 2-5c/kg lower, apart from 18.5-19.5 micron wools, which jumped 17c/kg.

Merino pieces and bellies remained very solid, crossbred wools remained firm, and carding wools also showed very little change.

The market was beginning to struggle early yesterday before a sudden fall in the Australian dollar. This triggered an instant reaction in the market, with prices stabilising.

Demand for finer wools was substantial and it appears international interest is on the increase.

This week was another fine example of just how much influence the currency has.
The trend should continue when sales recommence.

Sales will be held in all three major centres following the Easter recess. An offering in excess of 78,000 bales is expected.

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