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Aussie wool market finishes 0.7% higher

05 Mar '12
4 min read

Skirtings had a mixed start to the week, holding firm in Newcastle, but easing in Melbourne and Fremantle. There was generally good demand for the better types and more so for the medium and broader Merino wools.

Crossbred offerings were largely confined to Melbourne this week. The overall percentage changes in the crossbred average MPGs were similar to those for Merino wool; and the price movements during the week generally followed a similar pattern to Merino wools.

Oddments had a good week, with strong demand on Wednesday and prices remaining firm on Tuesday and Thursday.

Buyers for China were dominant followed by buyers for Europe and India. Buyers for Italy had a strong presence in Newcastle.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 52,367 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 37 and 38) are 42,800 and 46,000 bales, respectively; a decrease of 0.6% over the three sale period when compared with last year.

In South African sales, the Cape Wools Indicator was down by 3.1% since last week against a 3.3% appreciation of the Rand against the US Dollar and a 1.6% appreciation against the Euro. 7,883 bales were on offer.

Australian Wool Industries Secretariat Inc (AWIS)

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