Weekly Market Wrap

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With Mark Dyson, Managing Director

December 11, 2009

Wool prices settle leading into recess

THE wool market was a little mixed this week, with some small gains in early sales before prices eased toward the end of the week.

The Australian dollar appreciated slightly later in the week and demand weakened.

The dollar dipped from 92.9 US cents last week to 90.7 US cents when sales commenced this week, before climbing to 91.4 US cents on Friday.

A total 46,371 bales were put under the hammer, with about 9 per cent of the catalogue passed-in.

The Eastern Market Indicator closed at 872 cents per kilogram clean, easing just 1c/kg

Prices for most wools lifted 5-10c/kg at early sales, but this was eroded by the end of the week and most types finished down slightly or were unchanged.

Solid demand continued for skirtings and crossbreds.

Buying power was driven by China, with good support from India as well. European buyers were less active this week after showing some positive signs at recent sales.

Next week marks the final sales before the Christmas recess, with 45,711 bales set to be put to auction.

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Chris Vordermaier, Wool Brokering Manager
 
 


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