Weekly Market Wrap

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With Adrian Field, Melbourne
Trading Manager

July 2, 2004

Market drifts slightly

THE eastern market indicator fell 11 cents per kilogram this week to close at 816c/kg.

Merino fleece types were most affected, with some types falling up to 20c/kg.

Crossbred wools eased by about 5c/kg and skirtings were virtually unchanged. Cardings continued their upward trend, gaining about 5c/kg.

Next week's sale will be the last before the annual 3-week recess from selling.

Sales will be held in all centres and volume on offer totals more than 87,000 bales Australia-wide.

It will be the highest offering for some time and is likely to test the market.

The market could ease slightly, but not drastically.

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