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wool Market Report
5 Apr 2007
Good finish for the Easter break…
- The wool market has been drifting lower now for over two weeks and was 5 cents cheaper on Tuesday this week. Despite this the market found some energy on the last day of the sale to close dearer.
- The medium micron categories were the big winners recording gains of up to 23 cents compared to the close of last week. This is a good note to finish on going into the Easter sale recess.
- Recent published export figures show that almost 2/3rds of Australian wool is exported to China. The figures also indicate that China has imported over 60,000 more bales this season, compared to last season.
- International customers purchase wool in USD. The current high AUDUSD exchange rate is dampening demand for Australian wool. The Australian dollar has traded over 82 cents recently. One month ago (5th March) the Australian dollar was trading at 77.06 US cents. This currency has increased over 5 whole US cents within 4 weeks!
- Major auction buyers this week were Techwool (5,381 bales), AS Gedge (4819 bales), and Itochu wool (4173 bales)
- No Wool sales next week due to the Easter recess. Sales resume the week beginning the 16th of April, selling at all three centres. A total of over 68,000 bales are rostered for sale that week. Due to this recess the next Wool Weekly publication will be on Friday 20th April.
- 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 Malcolm Condie
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