Weekly Market Wrap

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With Mark Dyson, Managing Director

March 5, 2010

Finer wools impacted in slight market easing

IT was a case of "little change" in the wool market this week, with the Eastern Market Indicator easing just slightly to 915 cents per kilogram clean — a drop of 4c/kg on last week.

With the Australian dollar increasing against the Greenback from around 89 US cents to just over 90 US cents later this week, it meant the market actually increased by about 10c/kg in US dollar terms.

A total 43,257 bales were put to the trade and about 12 per cent of the offering was passed-in.

As has been the trend in many auction weeks, broader wools stood-up well, with finer types impacted most by the small price dip.

The finer wools are not being helped by the volumes of these types currently hitting the market.

Skirtings were more "up and down" this week, with good demand initially before easing with the general market. Oddments drifted slightly, but remain in good price territory.

Taiwan and Europe supported the bulk of the buying from China this week. Demand from India softened a little.

Just over 37,000 bales are set to go under the hammer nationally next week. Estimates for coming auctions are about 10pc less than for the same period last year.

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Chris Vordermaier, Wool Brokering Manager

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