Weekly Market Wrap

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With Mark Dyson, Managing Director

August 20, 2010

Finer wools in demand as prices remain steady

WOOL prices remained steady this week, with the Australian dollar tracking up and down a little.

The dollar initially dipped slightly to 88.6 US cents and then increased to 90.7 US cents before easing back to 89.6 US cents toward the end of the week.

The Eastern Market Indicator closed at 874 cents per kilogram clean, just 1c/kg down on last week.

A total 35,423 bales were put under the hammer, with about 12 per cent of the offering passed-in.

Finer wools again attracted most of the competition, with 17-17.5 micron types in strong demand and fetching up to an extra 50c/kg.

Medium and broader wools were just slightly off the pace this week, while skirtings returned to positive territory and crossbreds followed this lead.

Oddments also gained a little ground from their position last week.

China continues to account for the lion's share of the buying, with Europe, India and Taiwan chiming in.

Next week's sales are tipped to nudge 40,000 bales nationally.

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