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Pleasing week for broad Merinos
10
Oct '11
Oddments eased sharply in Melbourne on Tuesday, but were in generally good demand on Wednesday and Thursday.

Buyers for China were dominant followed by buyers for India. Reports from the trade indicate that demand from Europe is very subdued at the moment. However, there was good buying support from Italy on Wednesday, in an offering which included a good quantity of suitable types.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 43,743 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 16 and 17) are 49,400 and 45,500 bales, respectively; an increase of 2.8% over the three sale period when compared with last year.

The New Zealand Merino Company is rostered to offer 2,500 bales in Week 16 and 2,000 bales in Week 17.

In South African sales, the Cape Wools Indicator was down by 5.5% since last week against a 3.3% depreciation of the Rand against the US Dollar and a 1.0% depreciation against the Euro. 8,095 bales were on offer.

Click here for chart and tables


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