Weekly Market Wrap

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With Mark Dyson, Managing Director

April 2, 2010

Buyers hesitant, but confidence remains

WOOL buyers were a little hesitant in the market this week, although the outlook continues to be positive for the remainder of the selling season.

The Eastern Market Indicator dipped to 900 cents per kilogram - down 22c/kg compared with last week.

The Australian dollar did contribute to the fall, climbing to 91.6 US cents from around 91 US cents last week.

A total 46,270 bales were put under the hammer this week, achieving a clearance of about 23 per cent on both days.

Most wool types took a price dive this week, with the broader types less affected due to their short supply.

Buyers were less active leading into the Easter sales recess, however stronger competition is anticipated over the remainder of the selling season due to the low wool supply.

Wool prices are expected to be in positive territory for the last few months of the selling season. Crossbred wools and skirtings followed a similar trend.

China led the buying as per usual, with Europe continuing to show buying confidence.

National sales will resume after the Easter recess.

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Chris Vordermaier, Wool Brokering Manager
 
 


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