Weekly Market Wrap
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With Adrian Field, Melbourne
Trading Manager
May 27, 2005
Market improvements evaporate
THE eastern market indicator fell 13 cents per kilogram
this week to close at 727c/kg - exactly correcting last week's
market rise.
The strengthening Australian dollar was obviously a factor,
but the absence of some of our biggest buyers also had a major
impact. The lack of competition was one of the major reasons
for the sudden slump.
From a total offering of slightly more than 53,000 bales,
15 per cent was passed in. This was to be expected considering
the price fall.
All wool types declined in price this week, especially 18-20
micron wools, which dipped 20c/kg. Some wools finer than 18
micron fell by up to 40c/kg.
Most Merino fleece types lost 5-15c/kg, with wools finer than
19 microns most affected.
Wools of 24 and 25 micron actually gained 5c/kg.
Most Merino skirtings fell 10-20c/kg, with poorer, shorter
styled wools most affected. Crossbred wools only declined
5c/kg. Not all carding wools were affected, but most lost
5-10c/kg.
Next week's sales will be held in Fremantle, Melbourne and
Sydney, with a little more than 63,000 bales on offer.
Hopefully some of the larger buying firms will become active
again next week to prevent any further market weakening.
Next week's offering is almost 10,000 bales larger, so good
competition is necessary to keep the market steady.
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Trading
Manager Adrian Field
takes a look back - for a better wool
future!
Read more... |
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