Weekly Market Wrap

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With Mark Dyson, Managing Director

April 3, 2009

Low wool stocks pushing up prices

CONCERN over falling wool stock levels is continuing to drive the market, with the Eastern Market Indicator (EMI) finishing 14 cents per kilogram higher this week at 765c/kg clean.

Competition was widespread, again despite a rising US exchange rate, with good gains for all Merino and crossbred types.

Of the 47,174 bales offered, just 5.4 per cent was passed-in - the lowest for the season. A total 2062 bales were withdrawn prior to sale and re-offered bales made up 12.5pc of the offering.

Finer wools in the south attracted strong attention, with the 16.5-17 micron range jumping by more than 50c/kg.

Crossbred types of 26-30 microns jumped 4.5pc.

Average Micron Price Guides (MPGs) were up by 31c/kg clean for 16.5 microns, by 27c/kg for 17 microns, by 16c/kg for 17.5 microns, by 15c/kg for 18 microns, by 33c/kg for 18.5 microns, by 25c/kg for 19 microns and by 17c/kg for 19.5 microns. The 20 micron wool average MPG was up by 18c/kg, 21 microns by 19c/kg, 22 microns by 16c/kg, 23 microns by 15c/kg and 24 microns by 10c/kg.

A total 47,406 bales have been rostered for sale at all three selling centres next week.

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Chris Vordermaier, Wool Brokering Manager
 
 


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