Weekly Market Wrap

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With Mark Dyson, Managing Director

October 23, 2009

Solid demand continues

THE wool market continued its solid run this week, with the Eastern Market Indicator climbing another 25 cents per kilogram clean to hit 873c/kg at the close of sales.

There was no major impact from the Australian dollar this week, with it hovering in the 92-93 US cent range.

Supply concerns remain the driver and it stirred good competition again at the sales, with China increasing its aggression to lead the charge.

The total 44,746-bale offering achieved a 95 per cent clearance.

All wool types enjoyed good price gains, with those in the 19.5-24 micron range coming in for some particular attention.

Finer types gathered more momentum toward the end of the week.

The national weekly offerings have grown in this period, suggesting that some stored wool may also be coming onto the market. Spring shorn wool levels may also be increasing after some shearing delays due to inclement weather earlier.

Next week the rostered offering is set to pass the 53,000-bale mark.

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Chris Vordermaier, Wool Brokering Manager
 
 


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