Weekly Market Wrap
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With Adrian Field, Melbourne
Trading Manager
December 3, 2004
Positive signs in run to Christmas
THE eastern market indicator found some stability this week
to close at 724 cents per kilogram - a rise of 5c/kg.
Most wool types gained in value, with 20 and 24 micron wools
showing the biggest improvements.
Merino combing types increased from 1-10c/kg, pieces and
bellies were mostly unchanged, crossbred wools gained 5-10c/kg,
and cardings were very firm.
Passed-in rates fell to just under 10 per cent.
The main reason for the improvement again centred on the
Australian dollar. It drifted downward from the 80 US cent
mark to around 77 US cents.
Meanwhile, PETA will continue to campaign against the mulesing
of lambs. It looks like it will persist until it gets some
form of result.
PETA is certainly an extreme group and it appears it is not
prepared to listen or negotiate.
Next week's sales will be held in Fremantle, Sydney and Melbourne,
with a combined national offering of around 69,000 bales.
Even though the dollar has eased, demand has also slowed
a little and so little change is expected.
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Trading
Manager Adrian Field
takes a look back - for a better wool
future!
Read more... |
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