Weekly Market Wrap
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With Adrian Field, Melbourne
Trading Manager
June 3, 2005
Indicator not true reflection of activity
EVEN though the eastern market indicator fell just 3 cents
per kilogram this week to close at 724c/kg, there was considerable
price movement in various categories.
Fine Merino wool prices decreased 10-20c/kg, while broad Merino
types strengthened and crossbred wools fetched an extra 10-20c/kg.
From a total offering of slightly more than 56,000 bales,
16.8 per cent was passed in.
Melbourne had the largest offering at just over 30,000 bales,
of which 14pc was passed in. Sydney offered 17,000 bales,
with 15pc passed in. Fremantle offered just 9000 bales, but
recorded a massive 27pc pass-in rate.
In the south east, 20 micron and finer Merino fleece fell
5-15c/kg, 21-23 micron wools remained firm and 24-26 micron
types gained about 10c/kg.
Most Merino skirtings fell 5-15c/kg. Again, poorer, shorter
style wools were most affected. Better style and good length
wools were least affected.
Crossbred wools continued to get dearer, with 27.5 micron
and finer types gaining up to 20c/kg. Remaining types increased
by about 10c/kg.
Most carding wools decreased 5-10c/kg, with short, combing
Merino lambs most affected.
Next week's sales will be held over two days in Melbourne
and Sydney, with just over 36,000 bales on offer - 22,000
and 14,000 bales respectively. The following week's sales
will also be held over two days due to the long weekend. At
this stage, it looks like quite a large offering, with bales
rostered for sale in Melbourne alone estimated at about 26,000.
Little market change is expected next week. Fortunately, wool
volumes on offer are fairly low, which is common at this time
of the year.
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Trading
Manager Adrian Field
takes a look back - for a better wool
future!
Read more... |
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