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Wool market report
8 Jun 2007
What goes up must come down…
- After several weeks of increasing prices the wool market fell this week despite small auction supplies and no Fremantle sale. The Eastern market indicator has fallen 18cents since last week to close yesterday at 998 c/kg.
- The finer microns experienced the majority of the falls while the medium micron categories were moderately affected.
- Although the wool market has recently shown strong resilience to the rising Australian dollar, the currency has contributed to the fall in the wool market this week. The Australian dollar has rallied strongly to set a 17 year high by trading at 84.8 us cents on Thursday.
- Major auction buyers this week were A.S. Gedge (4,006 bales), Techwool (2,837 bales), and Itochu (2,396 bales).
- Wool sales resume next week in Sydney, Melbourne, and Fremantle with a total offering of 47,599 bales.
World Record set!
Hillcreston Pinehill Partnership have achieved a world record by being accredited with eleven 1pp wool types for the 2006/07 wool selling season. The 1pp is the pinnacle of the wool appraisal system which many superfine and ultra fine wool producers strive to achieve. The highest auction price paid for one of the 1pp bales was 65,500 gsy c/kg (12.4 micron), however another bale from this excellent clip sold for 100,000 gsy c/kg (12.4 micron) via private negotiation through Craig Lawson—Landmark Southern NSW wool Manager.
Woolclassers Forum
The 17th Annual Woolclassers Forum is being held Wed. 13th Jun in Bendigo Victoria. Contact Landmark Bendigo—Athol Frederick on 0428 510 518 for details.
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For further information on the wool industry email Landmark or see the Landmark website.
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by Anthony Boatman
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