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wool Market Report
15 Jun 2007
Despite low supplies – Wool Market falls...
- After months of climbing prices, and evidence that we are running out of wool towards the end of this season, the wool market has fallen now for the last two weeks. The Eastern market indicator is now back below the 1000c/kg level to finish this week at 985c/kg.
- Falls of up to 40c/kg were experienced generally across all microns compared to last week, however Thursdays market seemed to steady on the news that next week will be one of the smallest wool sales for the season.
- 21 micron and coarser have now fallen back below the 90th decile, in fact the 20 micron indicator is the only micron category that is now above the 90th decile.
- The Australian dollar peaked at a 84.8 late last week which was a 17 year high! So moving into this week was a negative tone for the wool market, with forward markets falling on Monday and Tuesday setting the tone for a weaker Auction.
- Expectations for next week are mixed with such a small sale, and today the AUD is easing we could see a volatile market. There is only 2 more wool sales left for the season, followed by a 3 week sale recess.
- Major auction buyers this week were A.S. Gedge (4,969 bales), Itochu Wool (4,154 bales) and ABB export (2,726 bales).
- Wool sales resume next week in Sydney and Melbourne only with a total offering of 27,163 bales. The Melbourne wool sale will be selling on Wednesday only.
- Final Reminder—Fleece Competition
Entries for the Australian fleece competition closes this week so please ensure all fleece entries are in. A total price pool of $12,000 is up for grabs so make sure you don’t miss out. Details are available from the Landmark website or by contacting Peter Vile on 0418 555 595.
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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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