Weekly Market Wrap

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With Adrian Field, Melbourne
Trading Manager

February 4, 2005

Southern region strengthens, northern weakens

The eastern market indicator gained just 1 cent per kilogram this week to close at 741c/kg.

There were conflicting results between the northern and southern regions, whereby prices increased by up to 10c/kg in the south but decreased by 5c/kg in the north.

Passed-in rates were relatively low at around the 10 per cent mark.

In Melbourne, most Merino fleece types lifted by 5-10c/kg, with the exception of 23-25 micron wools which fell slightly. Wool of 18.5 and 20 microns received the strongest support.

Merino pieces and bellies gained a little, while crossbred types were steady. Carding wools recorded good prices early in the week before falling slightly on Thursday.

Meanwhile, latest estimates of unsold stockpiled wool are about one million bales. It appears that many growers are still preferring to sit on their wool.

PETA is increasing its campaigning, now aimed at shearing practice.

As AWI chief Ian McLachlan has said, this group probably has a much wider agenda than just mulesing and live exports. It appears that it wants to shut down the livestock industry altogether.

Similarly, Michael Lempriere has said that this group only has one objective - to rid animals from all human intervention.

There is no doubt that the widespread media coverage is further promoting PETA's campaign.

Next week's sales will be held in Sydney, Fremantle and Launceston. Launceston will be holding its annual sale and early reports suggest there is a good selection of stylish fine Merino wools on offer.

Again, little change is expected, particularly for normal types. However, premium Tasmanian wools are expected to receive premium prices.

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