Weekly Market Wrap

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With Mark Dyson, Managing Director

August 27, 2010

Fine wools find favour

STRONG buyer competition for finer wools continued this week, pushing prices for these types up to 70 cents per kilogram higher.

The Eastern Market Indicator finished the week at 872c/kg clean, easing just 2c/kg.

In US terms, the market drifted by 10c/kg. The Australian dollar initially dipped to 88.3 US cents before climbing back to 88.7 US cents toward the end of the week.

A total 38,804 bales were put under the hammer, with about 13 per cent of the offering passed-in.

The positive trend continued for the finer wools, while activity for medium and broader types was much more subdued.

There was healthy demand for skirtings too, with the better types recording good price levels.

Oddments retreated this week and this was most noticeable at the Melbourne sales.

A similar offering of 36,765 bales has been rostered nationally for next week. This includes a small Newcastle sale of superfine wools.

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