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Weekly Wool Market Report 19th February, 2008'
Weekly Wool Market Report 19th February, 2008'

       A weaker market is expected this week in Sydney with sales rostered for Wed/Thursday as the exchange rate hits 0.92USD. Until we see the rate below 0.90 selling will continue to be very difficult into China except for the odd prompt business or stock lot below market level. High passed-in rates and withdrawn wool during the past month have kept sales quantities higher than expected after such a prolonged drought, and we can now expect an increase in cut per head and a broader micron in coming months as seasonal conditions improve. Expect falls between 20/40 cents per kilo all microns and suggest any growers holding wool should probably sell given the strong exchange rates are expected to continue in the short/medium term. Europe and India also remain quiet with only limited business available. 


Posted on Tuesday, February 19, 2008
Posted by Scott Sealy  Contributed by
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