Weekly Market Wrap

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With Adrian Field, Melbourne
Trading Manager

March 30th, 2007

Larger offerings apply pressure

THE eastern market indicator fell another 10 cents per kilogram this week to close at 933c/kg.

With a larger than expected offering rostered for next week, a little uncertainty crept into the market this week. The strong Australian dollar also didn't help matters.

Of the 62,185 bales offered this week, 15 per cent was passed in.

Southern region

Merino fleece types shed about 20c/kg overall, with 22-23 micron wools most affected.

Merino skirtings dipped by about 10c/kg, while crossbred fleece wools also eased about 5c/kg.

Cardings strengthened again, but mainly in the early part of the week.

Next week's sales will again be held in all three centres (Melbourne, Sydney and Fremantle). No sales will be held the following week due to the Easter recess.

Prices are expected to remain steady next week, depending on the rostered offering after Easter and, of course, the trend in the Australian dollar.

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