Interviews
Wool market finishes 2% lower
12 Oct '09
4 min read
Merino skirtings had a strong day on Wednesday, but eased on Thursday in line with the changes in the market. Prices for crossbred types were down over both days, with their average MPGs down from 4.5% at the fine end to 6.5% at the coarse end.
Oddments were the least affected type, with the average Merino Cardings MPG down by 1¢ (-0.2%) for the week. Although more subdued, buyers for China dominated followed by those buying for India and for Europe.
Sales will be held in Sydney, Melbourne and Fremantle next week, when 47,694 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 17 and 18) are 50, 650 and 55,300 bales, respectively; an increase of 0.1% over the three sale period when compared with last year. The New Zealand Merino Company is rostered to offer 3,000 bales in Week 17 and 2,300 bales in Week 18.
In South African sales, where 7,768 bales were on offer,the Cape Wools Indicator was up by 2.6% since last week against a 0.5% depreciation of the Rand against the US Dollar and a 1.0% depreciation against the Euro.
Oddments were the least affected type, with the average Merino Cardings MPG down by 1¢ (-0.2%) for the week. Although more subdued, buyers for China dominated followed by those buying for India and for Europe.
Sales will be held in Sydney, Melbourne and Fremantle next week, when 47,694 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 17 and 18) are 50, 650 and 55,300 bales, respectively; an increase of 0.1% over the three sale period when compared with last year. The New Zealand Merino Company is rostered to offer 3,000 bales in Week 17 and 2,300 bales in Week 18.
In South African sales, where 7,768 bales were on offer,the Cape Wools Indicator was up by 2.6% since last week against a 0.5% depreciation of the Rand against the US Dollar and a 1.0% depreciation against the Euro.
Australian Wool Industries Secretariat
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