Weekly Market Wrap

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With Mark Dyson, Managing Director

December 4, 2009

Strong market mood leading to Christmas

THE wool market continued its surge this week, creating a positive mood leading into the Christmas selling recess.

The Eastern Market Indicator closed the week at 873 cents per kilogram clean, adding another 6c/kg for the week.

With the Australian dollar rising slightly from 92.2 US cents to near 93 US cents by the end of the week, in US terms the market increased by 11c/kg.

The pass-in rate was lower this week, with about 8 per cent of the 46,803-bale offering passed-in.

Medium and broader wools attracted plenty of competition again, while skirtings also remained on their hot streak.

Prices for crossbred types settled a little this week and were either unchanged or slightly down.

European buying strengthened again this week, which was very encouraging for the market. Other buyers who had also been a little quiet in recent times were more active this week.

China and India continued to be the dominant buying forces.

Next week, the national offering is expected to nudge 52,000 bales.

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Chris Vordermaier, Wool Brokering Manager
 
 


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