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wool Market Report
16 Mar 2007
Wool Market highs tested…
- Wool auctions resumed this week over two selling days in all three selling centres. After strong gains last week anticipation of further price gains this week were ripe.
- Prices rallied on Wednesdays sale across all microns in all three selling centres. Gains of around 25 cents were recorded on 20 to 22 micron wools. Finer types received gains of up to 47 cents.
- Forward markets have been extremely active with growers selling forward into this price rise. Many good till cancelled contracts have been triggered with this recent price rise. However with large volumes being transacted, forward prices were pushed back down.
- Thursdays market has showed negative sentiment. Price levels can best be described as unchanged to buyers favour. It seems that the heat has come out of the wool market. Price falls of up to 15 cents were recorded on medium to coarse micron categories on Thursday.
- Technically this market has risen to test the seasonal highs made in January. If prices push above this level, in to new territory, then there is a strong underlying strength to this market.
- Major auction buyers were Itochu (3645 bales), Chargeurs (3,394 bales) and AS Gedge (3,266 bales).
- Sales resume next week in Sydney, Melbourne and Fremantle with a total offering of 52,077 bales.
2007 Australian fleece competition…
The Australian fleece competition is now in its 7th year. Further details, entry forms and brochures are available from the Landmark website or your local Landmark Wool Area Manager. A total prize pool of $12,000 is up for grabs, and proceeds from the fleeces are donated to the Fred Hollows foundation. Entries close 15th June.
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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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