Weekly Market Wrap

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With Mark Dyson, Managing Director

June 10, 2005

Reduced competition lowers prices

THE eastern market indicator slipped 11 cents per kilogram to close at 713c/kg this week, with 15.5 per cent of the offering passed-in.

Although the Australian dollar did rise marginally, the main reason for the dip was a lack of competition.

The most concerning aspect was the fact that this week's offering was the smallest for the year at just under 35,000 bales nationally.

BWK Elders was noticeably very quiet again, as well as several other firms.

Large price falls were recorded in several categories this week, especially for combing wools finer than 19 microns.

Prices for Merino fleece of 19 microns and finer fell 10-30c/kg, while 20.5 micron and broader wools lost about 10c/kg.

Most Merino skirtings followed a similar trend, with finer wools most affected. Remaining types were irregular and overall fell about 10c/kg.

Crossbred wools were only slightly cheaper, apart from 27-29 micron types which shed up to 15c/kg.

Carding wools fell 5-10c/kg, with crossbred lambs wool most affected.

Meanwhile, there was some interesting reading in the rural newspapers this week, particularly the Stock and Land.

The issues surrounding AWH's bold move to sell their wool in a separate centre was interesting.

There's also plenty happening in regards to putting out flames created by PETA, as well as information regarding upgraded spending for advertising and promotion of wool.

Next week's sales will be held over two days in all three centres, with just under 54,000 bales rostered for sale.

The market appears to have just about found its new level, although demand is still subdued.

Little market change is anticipated.

 

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