Weekly Market Wrap
For the latest edition, please Refresh
frequently visited pages.
With Adrian Field, Melbourne
Trading Manager
October 8, 2004
Market stabilises
THE eastern market indicator only fell three cents per kilogram
this week to close at 741c/kg.
Most of the price fall occurred on the first day, with a good
recovery on the second and final day of sales.
Passed-in rates were much lower than last week, finishing
at 13 per cent.
Wools most affected were in the finer crossbred category,
where 27-28 micron types reduced in price by up to 20c/kg.
Merino fleece of about 20 micron fell by up to 15c/kg, whereas
wools finer than 19 micron gained up to 10c/kg.
Carding wools continued to receive good support.
With the dollar strengthening late last week and early this
week, the market was expected to struggle. While this occurred
on the first day, the strong recovery on the final day was
promising and could suggest that we are over the worst of
the current slump in wool prices.
Looking at the spread of microns, it would appear that most
types are falling into line on price, particularly for 21
micron and broader wools. There is no doubt that there is
strong demand for 19 micron and finer wools, and this is where
the price gaps start to widen between microns.
A little over 66,000 bales has been rostered for sale next
week, with sales to be held in all three centres.
A solid market is expected based on the closing trend of
this week's sales. A rise in the dollar would be the only
factor to dampen such a result.
|
|
| |
| |
 |
 |
 |
|
|
Trading
Manager Adrian Field
takes a look back - for a better wool
future!
Read more... |
|
|
|
|
|
|
