Weekly Market Wrap
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With Adrian Field, Melbourne
Trading Manager
November 5, 2004
Market holds steady despite dollar
THE eastern market indicator dipped by only 3 cents per
kilogram this week to close at 742c/kg.
The Australian dollar gained more than 1 US cent, but this
had little effect on wool prices. This is a very positive
sign and suggests there is genuine demand for Australian wool.
Wool finer than 19 microns decreased the most - about 10c/kg.
Most other types eased only slightly, apart from medium to
broad Merino wools which showed very little change.\
Passed-in rates were around the 13 per cent mark nationally.
AWI board election
THERE are three new candidates for the upcoming AWI board
elections who seem to have impressive backgrounds and a positive
outlook.
The applicants are Walter Merriman, Kathy Walker Shaw and
Martin Oppenheimer. All three have extensive, first-hand experience
in various sectors of the industry.
They are reported to have slightly different objectives and
agendas to the current AWI board members focusing more on
funding for marketing and promotion rather than on-farm research
and development. They would like to see more accountability
on spending through investigating AWI's on-farm and off-farm
funding. One member would also like to see less spending on
administration.
Good luck to the new applicants and let's hope some or all
are successful. They appear to have the credentials and background
for the AWI board and should bring "fresh perspective''
with them.
Voting for the candidates will take place at AWI's general
meeting at Ballarat on November 19. Voting is also possible
by proxy through post, fax or internet.
Meanwhile, next week's sales will be held in Melbourne,
Fremantle and Newcastle.
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