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wool Market Report
23 Feb 2007
Have we seen the highs?…
- All microns categories have eased over the week with falls up to 33 cents clean. The only micron categories to record minor gains were the 30 micron crossbreds and the carding types.
- Despite the market falling in recent times in prospective the price levels are still exceeding the 75% decile levels for 20,21 and 22 microns. 21 Micron long term average price is around the 750 c/kg level.
- Main auction buyers were AS Gedge (4441 bales), Itochu (3552 bales) and G Schneider (3507 bales). The Newcastle sale was well supported from European buyers.
- Next week sales resume in Sydney, Melbourne and Fremantle with a total offering of over 73,000 bales.
- Clearance rates were around the 76% level nationally. The western market had high passed in rates compared with the eastern states.
- Future wool sale rosters indicate smaller offerings leading up to the end of this season. The wool trade has concerns over the lack of wool supply in the next few months which could halt further price falls.
- The Australian dollar has rallied this week to trade through the 79 cent level. The strong Australian dollar can dampen international demand as Australian wool purchases are made in US dollars.
Finest wool from the paddock!...
- The final Newcastle sale for the season saw a speciality bale offered through Landmark. Reportedly the finest bale of paddock grown, and uncoated ultra fine wool ever sold. The bale branded Angel Fleece and testing 12.7 micron sold for 54,000 greasy cents per kilogram to MA Kiernan & Co. The second line from the clip tested 13.3 micron and sold for 29,000 greasy cents per kilogram.
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For further information on the wool industry email Landmark or see the Landmark website.
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by Peter Tustin
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