Weekly Market Wrap

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With Mark Dyson, Managing Director

March 19, 2010

Positive vibe continues

THE vibe in the wool industry continues to be positive, with another 12 cents per kilogram clean added to the Eastern Market Indicator this week to reach 928c/kg.

With the Australian dollar gaining another cent against the Greenback by the end of the week compared with the same time last week to hit 92.2 US cents, the story was even better in US dollar terms up by 21c/kg.

Just over 43,000 bales were put under the hammer and achieved a 92 per cent clearance.

All wool types enjoyed price rises ranging from about 5-15c/kg.

The spirited activity in the auction rooms was very encouraging, with China, of course, dominating proceedings.

The European market awakening is continuing too, helping support the rising confidence in the industry.

Buyers for India and Taiwan chimed in as well, as has been the trend.

Similar offerings of around 44,000 bales have been rostered for the next two weeks.

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Chris Vordermaier, Wool Brokering Manager
 
 


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