News 
 State News 
 Wool 
 General 
 Wool goes sideways in final sales for 08/09 

Wool goes sideways in final sales for 08/09

27 Jun, 2009 09:55 AM
The Australian wool market finished 0.4pc higher on average after the last sales for 2008/09 in Sydney, Melbourne and Fremantle this week.

According to AWIS, the AWEX Eastern Market Indicator rose just 2c/kg (+0.3pc) to end the week at 777c/kg (clean).

The change was similar in all markets:

  • the northern market indicator rose 2c/kg (+0.3pc) to finish at 798c/kg;
  • the southern market indicator rose 4c/kg (+0.5pc) to close at 761c/kg; and
  • the western indicator gained 2c/kg (+0.3pc) to close at 769c/kg.

There were 33,208 bales on offer, compared to just 17,206 bales last week when only Sydney and Melbourne sold, of which 12.3pc were passed in.

Buyers for China dominated sales this week, followed by support from India.

There was also some increased activity from Europe this week.

The first sales for 2009/10 will be held in Sydney, Melbourne and Fremantle next week, when 36,725 bales are currently rostered for sale.

AWIS says the current estimated offerings for the next two weeks have fallen progressively since first notified to the trade, raising some concerns about supply in this period when meat and sheep prices are very high.

Print
Increase Text Size
Decrease Text Size


comments


No comments yet. Be the first to comment below.

post a comment


Screen name  *
Email address  *
Remember me?
Comment  *
 
We invite and encourage our readers to post comments. Comments are moderated and will appear as soon as our editor has approved them. When posting comments you agree to be bound by our Terms and Conditions.

Most popular articles

Ray White Rural MON0152
 
Small Farms Expo
 
Freedom Tanks
 
Irwin HunterIrwin Hunter
 
IRRIGATION CONFERENCE 2010
 
WA Merino Magazine
 
FBG
 
photo gallery


 SEND...
 SAVE...
 SHARE...