Weekly Market Wrap

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With Mark Dyson, Managing Director

November 27, 2009

Market momentum continues

THE wool market continued its promising trend this week, with the Eastern Market Indicator lifting to 867 cents per kilogram clean at the close of sales up 17c/kg for the week.

The Australian dollar maintained its level against the Greenback, falling just slightly from 92.6 to 92.2 US cents by the end of the week.

The total offering of 45,527 bales achieved a 92 per cent clearance.

Good price gains were recorded across all wool types.

Finer wools, particularly of 17-19 microns, fetched an extra 30-40c/kg, while prices for medium to broader types climbed 15-25c/kg

Competition was healthy across the catalogue, with strong demand for skirtings again.

China continued to dominate buying, with noted increased activity from Italian buyers this week, especially for the finer wools at Newcastle.

The national offering next week is expected to nudge 50,000 bales over two days of sales.

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Chris Vordermaier, Wool Brokering Manager
 
 


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