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Weekly Wool Market Report 10th August 2007
Weekly Wool Market Report 10th August 2007

         Market sentiment was the biggest mover this week with all micron categories enjoying rises of between 30/60 cents per kilo with better finewool types most affected. After a large correction in the market last week amid concerns on Chinese quota's, some business was written and sentiment changed completely with exporters/buyers believing the market had bottomed and were prepared to resume buying. Wednesday's market was fuelled by speculation China would follow and needed to buy but by Thursday with no business confirmed exporters again were awaiting clearer signals from our biggest customer and as a consequence medium wools fell back 10 cents per kilo. Although sales Nationally are only around 40,000 bales for the next 4/5 weeks we expect market volatility until China and Europe re-enter the market as expected by late August/early September or our exchange rates become more attractive.


Posted on Friday, August 10, 2007
Posted by Scott Sealy  Contributed by
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