Weekly Market Wrap

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With Adrian Field, Melbourne
Trading Manager

February 3, 2006

Market breaks through 700c/kg

THE eastern market indicator passed through the 700 cents per kilogram mark this week to close at 704c/kg, representing a rise of 13c/kg.

Again, most rises were recorded in the finer Merino fleece types, but mainly in Sydney.

The sudden boost in fine wools has given these growers fresh hope after a fairly dismal past two years, particularly the past six months.

Of the 61,106 bales offered, 8.3 per cent was passed in, which again was very low.

Finer wools showed little change in the south this week, apart from shorter fleece types.

Most gains were in the 20-23 micron range, especially for TDR fleece.

Merino skirtings also showed similar trends as the fleece, whereby finer types remained unchanged and broader types strengthened.

Crossbred wools strengthened slightly in the 28-30 micron range, with other types remaining the same.

Carding types increased by about 5c/kg.

Next week's sales will be held in Sydney, Fremantle and Launceston (annual sale), where a total of 48,000 bales will be offered.

As in previous weeks, there should be good support for better styled wools.

Tasmania's offering is poorer in style compared to previous sales there. Weights are down and tensile strength is lower.

Next week's anticipated national offering has passed 65,000 bales.

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