Weekly Market Wrap
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With Adrian Field, Melbourne
Trading Manager
May 25th, 2007
Indicator breaks through 1000c/kg
WE have now gone into territory that has not been experienced for some years.
While it's early days, the wool industry is potentially headed for another boom period.
The big question on everyone's lips is: "how long will it last"?
The eastern market indicator jumped a massive 28 cents per kilogram this week to close at 1008c/kg.
The biggest movers this week were the finer Merino fleece types - 18.5 micron and finer climbed by up to an incredible 80c/kg.
Crossbred wools were the only types that showed little change this week, and some of the broader microns were actually weaker.
Obviously the passed-in rates were also the lowest in years. Of the 48,789 bales offered, just 3.9 per cent was passed in.
Southern region
Merino fleece types were extreme this week, with 18.5 micron and finer wools going through the roof. Most remaining microns were 20-30c/kg higher.
Merino skirtings continued their march, with 30c/kg rises overall - again it was the finer microns that were most sought-after.
Crossbred fleece wools were slightly weaker overall, especially for 30-micron and broader types. Cardings were about 5c/kg higher.
A total of 49,541 bales have been rostered for sale next week in all three centres.
Once again, the trend is up and, once again, we don't know when it will stop. Demand still appears to be strong, so a relatively strong market is likely.
| RECENT ISSUES |
 May 18, 2007 |
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