Weekly Market Wrap

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With Brian Vagg, Melbourne

October 26, 2007

Slight correction in market

DESPITE a slight correction in the market this week, with a larger offering comprising lower newtons per kilotex and higher mid-break lots, support was solid from all sectors of the buying trade.

Of the 66,813 bales offered, 12.5 per cent was passed-in.

Southern region

All Merino fleece types eased, especially 19-23 micron fleece, which dipped 25-35 cents per kilogram.

Skirtings also drifted, but good support was shown for lots with better styled, low vegetable matter wools.

Cardings gained about 7c/kg for the week.

Sales will be held in Sydney, Melbourne and Fremantle next week, with 66,955 bales rostered for sale nationally.

The following weeks are scheduled to comprise smaller offerings of 52,000-58,000 bales.

Australian Wool Testing Authority data shows 11.7pc fewer bales tested in September compared with last year, taking the progressive, year-on-year difference to 10.3pc (July-September 2007).

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