Weekly Market Wrap

For the latest edition, please Refresh frequently visited pages.

With Mark Dyson, Managing Director

July 2, 2010

Prices hold amid global uncertainty

THE wool market appears set to continue its price trend for the remainder of the 2009-10 selling season, however a significant increase in auction catalogues next week will no doubt apply some pressure.

The Eastern Market Indicator closed at 898 cents per kilogram clean this week, posting a 3c/kg gain.

However, the Australian dollar dipped significantly against the Greenback, putting the market down 17c/kg in US terms. The Australian dollar drifted from 87.4 to 85.2 US cents toward the end of this week.

It also fell against the Euro, from 70.9 to 69.8 cents, equating to a 9c/kg decline.

A strong 90 per cent clearance was achieved from the 27,605 bales put under the hammer.

The wool offering next week is expected to jump significantly to nudge 50,000 bales, which will be a good test for the market demand.

Global financial uncertainty continues to affect confidence and this is impacting on the wool market.

However, current demand levels are expected to be sustained and this should support similar price levels for the remaining wool sales prior to the winter recess.

During the economic downturn, it has been encouraging that wool has stood up well against other commodities. It has not taken the hit that some other commodities have experienced.

Finer wools performed better at auction sales this week after declining a little over the recent period.

Finer crossbred wools were the pick among these types, while there was healthy competition for skirtings again and cardings also recorded small gains.

RECENT ISSUES
June 25, 2010
June 18, 2010
June 11, 2010
June 4, 2010
May 28, 2010
May 21, 2010
May 14, 2010
May 7, 2010
April 30, 2010
April 23, 2010
April 16, 2010
April 2, 2010
March 26, 2010
March 19, 2010
March 19, 2010
March 12, 2010
March 5, 2010
February 26, 2010
February 19, 2010
February 12, 2010
February 5, 2010
January 29, 2010
January 22, 2010
January 15, 2010
December 18, 2009
December 11, 2009
December 4, 2009
November 27, 2009
November 20, 2009
November 13, 2009
November 6, 2009
October 30, 2009
October 23, 2009
October 16, 2009
October 9, 2009
October 2, 2009
September 25, 2009
September 18, 2009
September 11, 2009
September 4, 2009

 
With Mark Dyson, Managing Director
 
 


View Archive





Disclaimer  |  Copyright 2006 Quality Wool  |  Phone (08) 8341 0000  |  Fax: (08) 8341 0044
website by echidna web design